PM Internship Scheme

• 12 Oct 2024

Source: BS

Recently, the Ministry of Corporate Affairs has launched the Prime Minister’s Internship Scheme, which was announced in the Union budget 2024. 

• About the Scheme: 
  • The scheme aims to provide students with internship opportunities to address youth unemployment.  
    • It seeks to provide internships to 1 crore young people over the next five years. 
  • Applicants will get a monthly stipend of  ₹4,500 from the government, and an additional ₹500 by companies as part of their Corporate Social Responsibility initiatives consisting of one year. 
  • A one-time grant of ₹6,000 will be provided upon enrollment, along with insurance coverage under the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. 
• Eligibility Criteria:  
  • Age: 21- 24 years. 
  • Education: At least Class 10th; graduates from premier institutions (IITs, IIMs) and professional qualifications (CA) are excluded. 
  • Employment Status: Must not be in full-time employment. 
  • Income Restriction: Family income must not exceed ₹8 lakh annually; families with government employees are ineligible. 
• Benefits of the Scheme:  
  • Offers practical skills in real-world environment. 
  • It will provide financial support to the youngsters.

Read more: The State of Youth Employmnet in India, Corporate Social Responsibility - A Strategic Endeavour