Prime Minister’s Internship Scheme Launched: Rs 5,000 Monthly Stipend, Registration from Oct 12-25

The government has launched the Prime Minister’s Internship Scheme on Thursday, October 3, offering 1.25 lakh internships in 500 top companies for the financial year 2024-25. This initiative is part of a larger scheme aimed at creating one crore internships over the next five years, as outlined in the Budget 2024-25. The scheme will be implemented through an online portal managed by the Ministry of Corporate Affairs (MCA).

Pilot Phase and Budget

The pilot phase of the scheme has been allocated a budget of Rs 800 crore. It will link young graduates with 500 leading companies, offering them practical exposure to real business environments. The companies participating in the scheme have been selected based on their Corporate Social Responsibility (CSR) expenditure over the past three years.

Leading firms like Mahindra & Mahindra, Max Life, and Alembic Pharma have already made 1,077 internship offers, indicating strong initial interest.

Registration Details

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

Internship Timeline

Selection Process: October 27 – November 7

Internship Offer Letters: November 8 – 15

Internship Start Date: December 2, 2024

Benefits

Interns will receive a monthly stipend of Rs 5,000, with Rs 4,500 funded by the government and Rs 500 contributed by participating companies from their CSR funds. Additionally, interns will be provided with a one-time grant of Rs 6,000 upon joining and will be covered under the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana for insurance.

Eligibility and Criteria

Eligible candidates must be aged between 21-24 years and hold a High School or Higher Secondary certificate, ITI diploma, or a graduate degree (BA, BSc, BCom, BCA, or BBA). 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 from the scheme.

Support and Grievance Redressal

The scheme offers a dedicated grievance redressal mechanism and a multilingual helpline (1800-116-090) to assist applicants and stakeholders in various languages.

This initiative aims to bridge the gap between academic learning and industry needs, equipping young professionals with essential skills for their future careers.