PM Internship Scheme Launched On Pilot Basis, 1.25 Lakh Candidates To Benefit

The government on Thursday launched the pilot project of the PM Internship Scheme, which is expected to benefit over one lakh candidates seeking internship opportunities.The candidates can apply for internships under the scheme between Oct. 12 and Oct. 25, government sources said, adding that the duration of the internship will be 12 months.The selected applicants will have to accept the offer between Nov. 8 and Nov. 15, the persons said. The scheme will commence from Dec. 2, they added.The pilot project is aimed at providing internship opportunities to 1.25 lakh candidates at an expenditure of Rs 800 crore in this fiscal, the sources said.“Lots of companies are willing to participate in the government-sponsored voluntary scheme. We expect manufacturing companies would be the first ones to invite applicants," they said.The Ministry of Corporate Affairs, which is the nodal ministry for the scheme, is finalising guidelines for the scheme and will put out the eligibility criteria for interns. The rules may limit participation to economically weaker sections of society with combined annual income below Rs 10 lakh, one of the persons privy to the development said..Budget 2024: PM Package Internship Scheme — Who Benefits, Who Doesn't .The internship portal, to be activated by MCA, will act as a one-stop website for companies and candidates alike. Candidates in online courses and vocational training could be eligible for the programme, they said.The internship scheme announced in the July Union Budget of 2024 is part of the government’s initiative to encourage and align skill development with corporate demands.Top corporates such as Adani Group, Mahindra & Mahindra, Larsen & Toubro, and Reliance Industries have expressed interest in participating in the scheme, people cited above said.Companies will be able to use their corporate social responsibility resources to pay for interns' training expenses under the programme.Each intern's stipend will be divided, with Rs 4,500 coming from government funding and Rs 500 from business CSR funds, giving candidates a total of Rs 5,000 each month. Every intern will also get a one-time payment of Rs 6,000 from the government.While applying for the position, applicants must complete a brief questionnaire describing their qualifications and interests.After matching these talents with open positions at partner companies, the portal will automatically create resumes for the applicants.The MCA has already received 1,077 offers across various sectors till Thursday, the sources said. These offers are across sectors like agriculture, automobiles, and pharmacy.Finance Minister Nirmala Sitharaman, in her 2024 Budget presentation, underlined, “This internship initiative will equip our young workforce with practical skills, aligning them with the needs of industry and helping bridge the gap between education and employment.”.Budget 2024: One Crore Youth Will Directly Benefit From Our Internship Scheme, Says Finance Minister

PM Internship Scheme Launched On Pilot Basis, 1.25 Lakh Candidates To Benefit

The scheme will incur an expenditure of Rs 800 crore in this fiscal, government sources said.

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PM Internship Scheme Launched On Pilot Basis, 1.25 Lakh Candidates To Benefit

The scheme will incur an expenditure of Rs 800 crore in this fiscal, government sources said.

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