Central government launches initial phase of Prime Minister’s internship scheme
- In Reports
- 11:56 AM, Oct 04, 2024
- Myind Staff
The Central government has launched the initial phase of the Prime Minister’s Internship Scheme, aiming to create 1.25 lakh internship opportunities for the FY 2024-25. This initiative aims to tackle youth unemployment by providing internships to 1 crore young people over the next five years. These internships are designed to offer valuable work experience, making it easier for participants to secure jobs afterward. Eligible applicants can apply online through the official portal.
To qualify for the scheme, candidates must be aged between 21 to 24 years, must not be engaged in full-time employment, and individuals from families with government employees are not eligible. Additionally, graduates from prestigious institutions such as IITs, IIMs, or those with qualifications like CA or CMA are excluded from eligibility. However, youth trained at Industrial Training Institutes (ITIs) and Kaushal Kendras (skill centres) are welcome to apply.
The internship program will roll out in two phases, aiming to train 10 million youth over five years. Selected participants will receive a monthly stipend of ₹4,500 from the government, along with an additional ₹500 from companies as part of their corporate social responsibility (CSR) initiatives. Participants will also receive one-time financial assistance of ₹6,000 to cover incidental expenses and be insured under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the government covering the premium costs.
In the initial phase, 1.25 lakh internships will be offered during the 2024-25 fiscal year. As of now, over 1,000 internship offers have been extended by companies such as Mahindra & Mahindra, Max Life, and Alembic Pharma. Registration for these internships will be open from October 12 to October 25, 2024. Selected candidates will be notified between October 27 and November 7, 2024, with companies issuing offers between November 8 and November 15. The first batch of interns is expected to start on December 2, 2024.
Companies participating in the program have been chosen based on their CSR spending over the past three years. While participation is voluntary, additional companies, banks, and financial institutions may join the scheme upon approval from the Ministry of Corporate Affairs (MCA). Firms unable to provide in-house internships are allowed to collaborate with suppliers, customers, or other partners to create opportunities. The internships will last for 12 months, focusing on hands-on work experience to help participants gain practical job skills. Most of the stipend will be funded by the government, with companies contributing a portion through their CSR funds.
For complaints, a multilingual helpline has been established to address any issues that arise during the internship process. The scheme aims to help young people build a strong foundation for a successful career in India’s growing job market.
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