The Government of India recently introduced a new program the Prime Minister’s Internship Scheme. It aims towards providing internship opportunities to 1.25 lakh candidates during 2024-2025. As per the details received, the major motive of this program is to provide young people a chance to work at the top 500 companies in India.
The announcement of this scheme was first made in the Budget 2024-25 with the prediction for the next 5 years. Yes, the government is taking steps towards providing the young talent of the country a chance to work with the top companies in India.
The Ministry of Corporate Affairs (MCA) has also developed the www.pminternship.mca.gov.inportal to manage and access the information regarding this initiative. Just, after the announcement, the scheme got an amazing response as some of the top companies Mahindra & Mahindra, Max Life, and Alembic Pharma have shown their significant interest with more than 1000 internship offers.
Registration and Selection:
- Registration for the internship will start on 12 October and will continue till 25th October 2024.
- Candidates selected for the internship will be notified between 27th October 2024 to 7th November 2024
- Companies will release the Internship Offer letters to candidates between 8th November 2024 to 15th November 2024
- The first batch of internships is set to commence on 2nd December 2024.
Focus and Duration:
The major focus of the internship will be on how candidates can survive in real-world job environments. This program will take place for 1 year having at least 6 months highly dedicated towards hands-on work experience.
Stipend and Benefits to Interns:
During the internship, the candidates will receive ₹5,000 as their monthly stipend (₹4,500 will be provided by the government and ₹500 will be contributed by the company from its CSR funds). Once the interns join the company, the MCA will also provide a one-time grant of ₹6,000 to help candidates with their initial expenses.
Interns will be insured by the government under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana schemes and may also be eligible for additional accidental insurance coverage offered by partner companies.
Eligibility:
For candidates:
Age: The age of candidates willing to apply for the internship program must be between 21 years and 24 years.
Qualification: Candidates who have completed their high school or hold degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and various diplomas.
Nationality: The nationality of the candidate must be Indian
Employment: It is necessary to note that the candidate must not be employed full-time or engaged in full-time education
Must Note: Candidate who graduated from top institutions like IITs, and IIMs or those who completed their higher education like MBA, CA, CMA, and MBBS are not eligible to apply.
For Companies:
The Selection of companies to participate in the internship scheme has been made on the basis of their average CSR (corporate social responsibility) expenditure over the last three years. In case any company, bank or any other of the mighty ship is interested in participating then they can apply with the MCA approval.
The government has also given a benefit to the companies that in case they cannot offer the internship in-house then they can collaborate in their value chain with their suppliers, customers, or other units.
In order to ensure a smooth internship process, a grievance redressal mechanism and a multilingual helpline (1800-116-090) have also been established by the government. The program hopes to help young people learn practical skills so they can find jobs more easily in India’s growing job market.