PM Internship Scheme

About PM Internship Scheme:

• It 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.
• Aim: The scheme aims to provide internship opportunities to one crore youth over five years, in the top 500 companies.
• The pilot project will be implemented through an online portal managed by the Ministry of Corporate Affairs (MCA).
• 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 Corporate Social Responsibility (CSR)fund.
• They will also be provided a one-time grant of Rs 6,000 upon joining and insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.
• Internship period: One year
• Who is eligible for the 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
  • It is not open to post-graduates.
  • 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.
  • Anyone from a household that includes a person who earned an income of ₹8 lakh or more in 2023-24, will not be eligible.

Benefits of the scheme

• It will provide on-job training to youth and an exposure to real-life work environments. 
• 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 enterprises.

Q1: What is Corporate Social Responsibility?

It is a business model by which companies make a concerted effort to operate in ways that enhance rather than degrade society and the environment. It helps both improve various aspects of society as well as promote a positive brand image of companies.

Source: PM Internship Scheme: All you need to know