PM Internship Scheme: The employable percentage among final-year and pre-final-year students in India have increased from 33.9% in 2014 to 51.3% in 2024, according to the Government data. While presenting the Union Budget 2024-25 in Parliament, the Finance Minister, Nirmala Sitharaman announced the Prime Minister (PM) Internship Scheme.
A Pilot Project under this scheme was launched on October 3, 2024 which aims to provide 1.25 lakh internships for the Financial Year 2024-25. This will be done in collaboration with top companies identified based on their CSR expenditure. The portal of the scheme will be opening for candidates from Saturday, October 12, 2024.
The scheme aims to provide internship opportunities to 1 crore youth over the next five years in India’s top 500 companies. Under the scheme, the youth will be provided a 12-month paid internship. The Scheme aims to provide benefits under a Direct Benefit Transfer (DBT) model.
PM Internship Scheme: Eligibility
- Applicants age must be between 21 and 24 years old, and their nationality must be Indian.
- The applicant must not be involved in full-time employment or full-time education.
- Those who are class 10 pass and above can apply for this internship program.
Benefits
- Interns will be offered Rs 5,000 per month for 12 months under this scheme. Rs 500 of this will be contributed by the company by their CSR funds. Rs 4,500 will be transferred by the Government to the intern’s Aadhaar-linked bank account.
- A one-time grant for incidentals of Rs 6,000 will be given to each intern. This will be given by the Government through Direct Benefit Transfer.
- Training costs of the interns would be borne by the companies from their CSR funds.
- Insurance coverage shall be provided to each intern under insurance schemes of the Government of India. The premium amount shall be provided by the Government.
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