Prime Minister’s Internship Scheme

Why in News?

Data presented to Parliament shows that only one in five candidates accepted the PM Internship Scheme offers, and 20% of them quit early.

• Announced in – 2024 Union Budget.
• Aim – To provide internship opportunities to 1 crore youth in top 500 companies in 5 years.
• Launched by – Ministry of Corporate Affairs.
• Purpose – Youth will gain exposure for 12 months to real-life business environment, across varied professions and employment opportunities.
• Operation– Operate separately & independently from all existing skill development, apprenticeship, internship & student training programs run by Central/State governments across India.
• Duration – 12 months, with at least half the time spent gaining real job experience rather than classroom learning.
• Eligibility Criteria
  • Must be Indian citizen
  • Age – 21-24 years
  • Education – Minimum Class 10 pass or above (ITI, Polytechnic, Graduation, etc.)​
  • Not engaged in full-time employment or education (distance education/online program is allowed)
  • Family income – should not exceed Rs.8,00,000 per year.
• Exclusion
  • Graduate from IIT/IIM, NLU, IISER,
  • Candidate has professional/higher qualifications (CA, CMA, CS, MBBS, BDS, MBA, any Master’s degree)
  • Those who have completed training under NATS or NAPS
  • Enrolled in skill, apprenticeship, internship, or training programmes under Central/State schemes
  • Candidates whose family income is above Rs.8,00,000 per year, (family includes self, spouse and parents)
  • If any family member is permanent/regular government-employed family member.
• Benefits
  • 12 months real-life experience in India's top companies
  • Monthly assistance of Rs.4500/- by Government of India and Rs.500/- by Industry
  • One-time Grant of Rs.6000 for incidentals
  • Insurance coverage for every intern under PM Jeevan Jyoti Bima Yojana & PM Suraksha Bima Yojana.

Quick Fact

References

1. The Hindu | 1 in 5 candidates accepted PM Internship Scheme offers
2. My Scheme |PM Internship Scheme