PM Internship scheme launched: Rs 5,000 monthly stipend, register on Oct 12-25

The Prime Minister's Internship Scheme has been launched, providing 1.25 lakh internships in top 500 companies during FY 2024-25, with an aim to create one crore opportunities in five years. Register between October 12 and 25 at the official website.

In Short

• 1.25 lakh internships to be offered in FY 2024-25 through PM Internship Scheme
• Candidates can register between October 12-25
• Interns to receive Rs 5,000 monthly assistance

The government launched the Prime Minister’s Internship Scheme on Thursday, October 3, offering 1.25 lakh internships in top companies for the financial year 2024-25. The pilot project, part of the larger scheme to provide one crore internships over five years, will be implemented through an online portal managed by the Ministry of Corporate Affairs (MCA).

The pilot phase of the scheme, which was announced in Budget 2024-25, has been allocated a budget of Rs 800 crore. This initiative will connect young graduates with 500 of the top companies in the country, enabling them to gain practical business exposure and bridge the gap between academic learning and industry requirements.

As of now, leading firms like Mahindra & Mahindra, Max Life, and Alembic Pharma have already made 1077 internship offers, indicating strong initial interest.

Candidates can register between October 12-25 on the MCA’s dedicated portal: pminternship.mca.gov.in.

PM INTERNSHIP SCHEME TIMELINE

The selection process will run from October 27 to November 7, followed by internship offer letters being sent between November 8 and 15.

The first batch of interns will commence their one-year internships from December 2, 2024.

Companies participating in this scheme have been identified based on their Corporate Social Responsibility (CSR) expenditure over the last three years.

PM INTERNSHIP BENEFITS

Interns will receive Rs 5,000 per month as financial assistance, with Rs 4,500 contributed by the government and Rs 500 paid by the participating companies from their CSR funds.

They will also be provided a one-time grant of Rs 6,000 upon joining and insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.

ELIGIBILITY AND APPLICATION CRITERIA

Eligible candidates for the PM Internship Scheme must be aged between 21-24, with a High School or Higher Secondary certificate, ITI diploma, or graduate degrees like BA, BSc, BCom, BCA, or BBA.

However, those enrolled in full-time education or employed full-time are not eligible.

Graduates from premier institutes such as IITs, IIMs, and National Law Universities are also excluded.

The scheme offers a dedicated grievance redressal mechanism and a multilingual helpline (1800-116-090) for assistance in multiple languages, ensuring seamless support for all stakeholders.