Govt rolls out PM's internship scheme on pilot basis

The government rolled out the pilot project of the ambitious scheme Prime Minister's Internship Scheme on Thursday. The top 500 companies will be providing 1.25 lakh internship opportunities during FY 2024-25. according to information, the Prime Minister's Internship Scheme in Top Companies (Scheme) was announced in the Budget 2024-25 which aims to provide internship opportunities to one crore youth in the Top 500 companies over 5 years. This will be implemented through an online portal developed by the Ministry of Corporate Affairs (MCA), accessible at www.pminternship.mca.gov.in. Each intern will receive financial assistance of Rs 5,000 per month under the scheme, as per a government official. The scheme will be rolled out in two phases, with the first phase lasting two years and the second phase extending to three years.
The scheme is open to those aged between 21 and 24 who are not currently employed or engaged in full-time education. However, graduates from elite institutions like IIT, IIM, and IISER are ineligible for the programme. Candidates who have passed High School, Higher Secondary School, possess a certificate from an ITI, hold a diploma from a Polytechnic Institute, or are graduates with degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, etc. are eligible.In 2024-25, the total cost of the pilot project will be around Rs 800 crore and will look to provide internship to 1.25 lakh candidates during this fiscal.
Insurance coverage will be provided to each individual intern under insurance schemes of the Union government, PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. The premium amount in this regard will be offered by the government.