Prime Minister Internship Scheme Goes Live For Registration

Candidates can now apply for the Prime Minister Internship Scheme, with the dedicated portal going live for registration on Saturday. Those in the age group of 21-24 years are eligible to apply for the scheme.

As per the scheme's pilot project, estimated to cost around Rs 800 crore, internships will start on December 2. In a post on X on Saturday, the corporate affairs ministry said the scheme is a transformative initiative to ensure the skilling of youth, which will enhance their employability.

Company Participation and Funding

The scheme will provide an opportunity to do an internship in the top 500 companies in India for 12 months, it added. The scheme was announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024. While announcing the scheme, Sitharaman announced, "Interns will gain 12 months of exposure to real-life business environments, diverse professions, and employment opportunities." She further highlighted that companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds. Additionally, current cabinet secretary T.V. Somanathan told Outlook Business earlier that if companies sepnd around 40 per cent of their CSR on skilling initiatives, it will be sufficient. He said, "We have calculated that the CSR expenditure of the top 100 companies alone is Rs 12,000 crore out of the total Rs 26,000 crore. It would not require a massive reorientation of CSR towards this. If they spend, let us say, 40 per cent of their CSR on skilling initiatives, it will be sufficient."

It will be implemented through the online portal www.pminternship.mca.gov.in, developed by the ministry. "The portal ensures efficient access to internships across sectors with Aadhaar-based registration and tools like bio-data generation," the ministry said.

An official said the portal is now open for registration of candidates.

According to the ministry, in the past week, the portal has added more than 80,000 opportunities across 24 sectors, including oil, gas & energy, travel & hospitality and automotive.

Under the scheme, an intern will get monthly financial assistance of Rs 5,000 for 12 months and a one-time grant of Rs 6,000. Reports indicate that around 50 companies have offered internships under the scheme. The companies include TCS, Tech Mahindra, Britannia, Apollo Tyres and more. Meanwhile, around 500 companies have participated in this scheme. The companies include Reliance Industries, TCS, HDFC Bank, ONGC, Infosys, NTPC, Tata Steel, ITC and more.

Speaking to Outlook Business earlier, a source said, "Over 130 companies have already come on board, including major private sector players such as Jubilant Foodworks, Eicher Motors, Larsen & Toubro, Tech Mahindra, Mahindra & Mahindra, Bajaj Finance, and Muthoot Finance."

(With inputs from PTI)