Who are Eligible for PM Internship Scheme: The government has started the Prime Minister Internship Scheme on the basis of a pilot project with the aim of making the youth employable. Under the scheme, the youth selected for internship will get monthly financial assistance of Rs 5000. Apart from this, they will be given a lump sum assistance of Rs 6000 for ‘joining’ the internship. The internship will be for 12 months. Government sources said that there is a plan to provide 1.25 lakh internship opportunities in the current financial year. It is estimated to cost Rs 800 crore.
Job opportunities after training
Under the scheme, the target is to provide training to 1 crore youth in 5 years. Finance Minister Nirmala Sitharaman had said in her budget speech for the financial year 2024-25 that the government will launch a comprehensive scheme to provide internships. Under this, 1 crore youth will be given training opportunity in 500 top companies in 5 years. After which they will also get employment opportunities. The scheme will be implemented through the online portal www.pminternship.mca.gov.in.
Who is eligible and who is ineligible for the scheme
Talking about the eligibility criteria, candidates who have passed the examination from High School, Higher Secondary School, have ITI certificate, diploma from Polytechnic Institute, or any degree like BA, B.Sc., B.Com, BCA, BBA, B.Pharma. Graduates with degree will be eligible for this. However, there is a provision to exclude candidates whose family member’s annual income was more than Rs 8 lakh in 2023-24, out of the scheme. Sources said that till now three companies have offered to provide training to 1077 people. These companies are Alembic Pharmaceuticals, Mahindra & Mahindra and Max Life Insurance.
Registration will take place between 12th and 25th October
In the first phase, candidates can register themselves on the portal between 12th to 25th October. Sources said that companies will select the candidates from October 27 to November 7. After that, the selected candidates will have time from 8 to 15 November to accept the internship offer of the companies. The internship will start from December 2 and will be for 12 months. The youth selected for internship will be given insurance cover under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana. The government will pay the premium for this. Apart from this, companies can provide additional accidental insurance to the selected candidate.
What will be the total expense?
Monthly financial assistance of Rs 5,000 will be provided to those taking training. Of the total amount, the government will deposit Rs 4500 directly into the bank account of the selected candidate, while the company will pay Rs 500 from its CSR fund. Under the scheme, the company will bear the expenses related to training from its CSR fund. Sources said that youth between 21 to 24 years of age who are not doing full-time job and are not studying can apply for this through the portal. Candidates pursuing online/distance education programs are eligible to apply.