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.