India’s Finance Minister, Mrs. Nirmala Sitharaman, announced the Prime Minister Internship Scheme 1 Crore Youth 2024 during the education budget presentation. This scheme offers internships to students who have finished their education. The government will also give financial help and a monthly stipend to those selected. The money will be directly sent to the applicant’s bank account
PM Internship Scheme 2024: 1 Crore Youth to Benefit
The Government of India has launched the PM Internship Scheme to help unemployed youth find job opportunities. According to the announcement by India’s Finance Minister, 1 crore young people will benefit from this scheme.
By offering internships, the government aims to give important work experience to the youth, making it easier for them to find jobs. Those who meet the eligibility requirements should visit the official website and fill out the application form online to take advantage of the PM Youth Empowerment Program 1 Crore Youth 2024
PM Internship Scheme to Start on 3rd October
The Prime Minister Internship Yojna, which aims to improve youth skills and job chances, will begin on October 3, 2024. This one-year program is for young people aged 21-24 and offers internships in India’s top 500 companies.
It is part of the Prime Minister’s plan for Employment and Skilling, first announced in the Union Budget. Candidates can apply on the internship portal, which will also launch on the same day. To apply, you must not have a full-time job, and your family should not have any government employees
Students from top institutes like IITs and IIMs cannot apply, but youth from Industrial Training Institutes (ITIs) and skill centers can join. Interns will get a monthly stipend of Rs. 4,500 from the government, and companies will add Rs. 500 through their Corporate Social Responsibility (CSR) funds. The scheme will happen in two phases and aims to train 1 crore youth over five years
Objective of the Youth Internship Scheme
The main goal of the Youth Internship Scheme is to help young people in India gain work experience in the corporate world. This scheme will give them job opportunities. The Government of India will provide a monthly stipend of up to INR 5000 to selected candidates.
In addition to the stipend, they will also receive one-time financial help of INR 6000. The selected youth will get a chance to intern with the top 500 companies in India. This way, unemployed youth won’t have to rely on others for their daily expenses.
Helpful Summary of Prime Minister Internship Scheme
| Summary of P M Internship Scheme | |
|---|---|
| Scheme Name | Prime Minister Internship Scheme |
| Introduced by | Government of India |
| Objective | Provide internships |
| Beneficiaries | Youth of India |
| Official Website | https://pminternship.mca.gov.in/login/# |
Eligibility Criteria
To apply for the Government Job Training Program, you must:
- Be a permanent resident of India.
- Be between 21 and 24 years of age.
- Not have a full-time job.
- Have completed one of the following:
- Secondary School Certificate (SSC)
- Higher Secondary Certificate (HSC)
- ITI certificate, Polytechnic diploma, or a bachelor’s degree (like BA, B.Sc, B.Com, BCA, BBA, or B.Pharma).
Ineligibility Criteria
You cannot apply if:
- You are working full-time or are a full-time student.
- You graduated from institutes like IITs, IIMs, National Law Universities, IISER, NIDs, or IIITs.
- You hold professional degrees like CA, CMA, CS, MBBS, BDS, MBA, PhD, or a master’s degree.
- You are already enrolled in a government skill, apprenticeship, or internship program.
- You have completed an apprenticeship under NATS or NAPS.
- Your family income for FY 2023-24 is more than Rs. 8 lakh.
- Any of your close family members (you, parents, or spouse) have a permanent/regular government job (contract employees are excluded).
schedule of PM Training and Internship Initiative
Here is the schedule for the Prime Minister Internship Scheme:
- The scheme will officially begin on October 3, 2024.
- Companies can register and list internship positions from October 3 to October 11, 2024. During this time, companies will get ready and advertise the internships they are offering.
- Candidates can start applying for internships from October 12, 2024.
- The internship program will last for one year.
- Participants will get a monthly stipend during their internship.
Educational Qualifications
The Prime Minister Skill Internship Program is open to candidates who have:
- Completed High School or Higher Secondary School
- ITI certificates, Polytechnic diplomas
- Degrees like BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and others.
Benefits of the Prime Minister Youth Empowerment Internship
Here are the main benefits of the Youth Empowerment Internship
- The scheme improves job opportunities by giving participants real work experience in top companies.
- Interns receive practical training, helping them learn important skills that companies need.
- Interns will get a monthly stipend of Rs. 4,500 from the government, with an extra Rs. 500 from the company, giving financial support during the internship.
- It gives exposure to real working environments, helping participants understand professional work life better.
- The scheme allows internships in India’s top 500 companies, helping participants build strong professional networks.
- It encourages youth from various backgrounds, including ITIs and skill centers, to join the workforce.
- The selection process is transparent, making it fair for all candidates.
- The scheme aims to train over 10 million youth in five years, helping to close the skill gap in the workforce.
- It allows companies to work with partners for a richer internship experience.
Date of Announcement
The Prime Minister Internship Scheme was announced on 23 July 2024 during the presentation of the Union Budget for 2024-25.
Financial Assistance and Monthly Stipend
- Selected applicants will receive financial assistance of INR 6,000 under the Prime Minister PM Employment Scheme for 1 Crore Youth.
- A monthly stipend of up to INR 5,000 will also be given to selected applicants.
Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Address Proof
- PAN Card
- Ration Card
Salient Features
Here are the key features of the scheme:
- The internship lasts for one year, providing a set period for skill development.
- Interns will get a monthly stipend of Rs. 4,500 from the government, plus Rs. 500 from companies through CSR funding.
- A special online portal will be launched where candidates can apply directly for internships.
- Internships will be available in India’s top 500 companies, ensuring high-quality training.
- Selection will be done through an automated system to make it fair and unbiased.
- The scheme will roll out in two phases, aiming to train 10 million youth over five years.
- Interns must spend at least six months in a real working environment to learn practical skills.
- Companies can work with partners or other institutions to improve the internship experience
Partner Company Criteria
Here are the criteria for companies to join the Prime Minister Internship Scheme:
- Companies are shortlisted based on their average CSR spending over the last three years, as identified by the Ministry.
- Companies not in the top 500 list can still join by getting approval from the Ministry of Corporate Affairs, especially if they belong to less-represented sectors or regions.
- Companies that cannot offer internships directly can still participate by partnering with:
- Companies in their supply chain (suppliers, customers, vendors).
- Other companies or institutions in their corporate group.
Financial Assistance (Support)
Here is the simple breakdown of financial support for interns under the Prime Minister Internship Scheme:
Support and Benefits
- This scheme works through Direct Benefit Transfer (DBT), providing financial help directly to interns.
Monthly Assistance to Interns
- Interns will get Rs. 5,000 every month for 12 months of the internship.
- The payment is divided as:
- The company will give Rs. 500 per month to the intern based on attendance and company rules.
- The remaining Rs. 4,500 will be directly sent to the intern’s Aadhaar-linked bank account by the government.
- If a company wants to give more than Rs. 500, it can do so with its own funds.
Grant for Incidentals
- Interns will get a one-time grant of Rs. 6,000 at the start of the internship to cover incidentals, directly transferred by the government.
Training Cost
- Companies will cover the cost of training interns using their CSR funds, following the rules.
Administrative Cost
- As per the Companies (CSR Policy) Rules, 2014, companies can use up to 5% of their CSR spending for administrative costs in this scheme.
Insurance Coverage
- Each intern will be covered under:
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
- The government will pay for the insurance premiums. Companies can also provide extra accident insurance if they wish.
Implementation in Phases
Here is how the Prime Minister Internship Scheme will be implemented in simple terms:
- The scheme will be introduced in two phases.
- Phase 1: 3 million youth will be trained over two years.
- Phase 2: Another 7 million youth will be trained over three years.
- Interns will receive an annual grant of Rs. 6,000 to cover extra expenses.
- Interns will also get a fixed stipend of Rs. 5,000 per month, funded by both the government and companies.
- Companies can choose to pay more than the Rs. 500 they are required to give.
- Any extra amount paid by companies will not be counted as part of their CSR contribution
Internship Portal Launch
The Prime Minister Internship Scheme will launch its portal on October 3, 2024. Youth can apply for internships with top companies through this portal. Companies will post available positions, and applications will start on October 12, 2024.
The scheme aims to improve youth employability by offering one-year internships in India’s top 500 companies. Youth who are unemployed and do not have government employees in their families can apply. Those from IITs or IIMs cannot apply, but youth from ITIs and skill centers are encouraged to join.
Interns will receive Rs. 4,500 monthly from the government and Rs. 500 from companies’ CSR funds. The scheme will be rolled out in two phases, targeting 10 million youth over five years.
Number of Companies Assigned
A total of 500 companies have been partnered with the Government of India to implement the PM Youth Training Scheme for 1 Crore Youth in 2024.
Selection Process
Here is the simple selection process for the scheme:
- Intern selection will be done automatically by a system to reduce bias.
- Companies will review the candidates selected by the system.
- If a company is not satisfied with the selected candidates, the process will be restarted.
- A panel of government officials and industry experts will supervise the process.
- The panel will ensure the selection is fair and follows the rules.
Implementation Process of the PM Internship Program
The Central Internship Program will be managed online through a portal: https://pminternship.mca.gov.in/login/. This portal will serve as the central platform for managing the entire internship process.
How the Scheme Works
Posting Internship Opportunities
- Each partner company will have a dedicated dashboard on the portal to post internships.
- Companies will provide details such as:
- Location of the internship
- Type of work involved
- Minimum educational qualifications required
- Any benefits or facilities offered
Registration/Application Process for Candidates
- Eligible candidates need to register on the portal.
- The portal will generate a resume based on the information provided by the candidate.
- Candidates can explore internships based on their preferred sectors, job roles, locations, and other criteria.
- Each candidate can apply for up to five (5) internships that match their preferences.
Shortlisting and Selection
- Candidates will be shortlisted through the portal based on their preferences and the companies’ requirements.
- The scheme focuses on diversity and inclusivity, giving priority to candidates from underrepresented groups like Scheduled Castes, Scheduled Tribes, Other Backward Classes, and Persons with Disabilities.
- Companies will receive two or three times the number of resumes compared to the available positions for selection.
- Companies will select candidates using their own criteria and processes.
- Once a company offers an internship, candidates can accept it through the portal.
Nature of Internship Offers
- An internship offer does not create any legal or contractual obligation between the Ministry, the company, and the intern.
- The offer does not guarantee future employment with the company or the Ministry, either during or after the internship.
Operational Guidelines
- Detailed guidelines for companies and candidates will be available on the portal.
Prime Minister Internship Scheme Application Process 2024
To apply for the scheme, follow these steps:
- Visit the official PM Internship website.
- Register by entering your personal and educational details.
- The portal will create a resume for you automatically using the information you provided.
- Browse available internships on the portal based on your preferences (such as sector, location, and role).
- Apply for up to five internships that match your interests and qualifications.
- The portal will shortlist candidates based on their applications and the criteria set by the partner companies.
- Companies will review the shortlisted candidates and make offers according to their selection process.
- If you receive an offer, accept it through the portal.
Login for the Prime Minister Internship Scheme
To log in, follow these steps:
- Go to the official website.
- On the homepage, click on the “Login” button.
- Enter your Username, Mobile number, or CIN, and then enter your Password.
- Click on the “Login” button to complete the process.
Download Guidelines
To download the guidelines, follow these steps:
- Visit the official website: https://pminternship.mca.gov.in/.
- On the homepage, click on the “GUIDELINES” option.
- The PMIS_Guidelines.pdf will appear on your screen.
- Click the download icon at the top right corner.
- The guidelines will be downloaded to your device.
Contact Details
- Address: A Wing, 5th Floor, Shastri Bhawan, Dr Rajendra Prasad Rd, New Delhi-110001
- Toll-Free Number: 1800 11 6090
- Email ID: pminternship[at]mca.gov.in
