PM Internship Scheme: All you need to know

The Prime Minister’s Internship Scheme, announced by Union Finance Minister Nirmala Sitharaman during her Budget speech on July 23, will be launched on October 3.

The PM Internship Scheme aims to provide internship opportunities to one crore youth in the top 500 companies over the next five years.

Companies will upload their internship positions, and candidates can submit applications starting October 12.

What is the Prime Minister’s Internship Scheme? The PM Internship Scheme will enhance youth employability in India by offering them hands-on exposure to real-world business environments.

The scheme represents a transformative opportunity to bridge the skills gap and drive sustainable growth in India.

A monthly stipend of ₹4,500 will be provided to the interns from the central government via DBT (Direct Benefit transfer), with an additional ₹500 offset provided by the company’s CSR fund.

Who is eligible for the PM internship scheme? Candidates aged between 21 and 24 years who are not engaged in full-time employment are eligible for the one-year internship programme.

Internships are available to those who have passed class 10 or higher.

Individuals from families with government jobs are excluded A candidate who graduated from premier institutes such as IIT, IIM, or IISER, and those who have CA, or CMA qualification would not be eligible to apply for this internship.

The PM Internship Scheme is also not open to family members who are income tax assessees.

How to apply for the PM internship scheme? Interns will be able to register in the portal and apply for internships through the portal once it is launched.

Applicants can submit applications starting on October 12, 2024, when companies upload available positions.

The portal is designed to streamline the application process and make candidate selection more transparent.

Applicants can check the status of their applications in the portal once they have applied to the available posts.

What is the benefit of the scheme? The scheme is to provide on-job training to youth and an exposure to real-life work environment.

The scheme will also benefit the industry by creating a pipeline of skilled, work-ready youth who can be employed post-internship both in large as well as micro, small and medium enterprise.

.