As the scheme gears up for its December 2024 launch, the government’s strategic use of CSR funding and top-tier corporate participation ensures a high-quality, impactful initiative.
NEW DELHI (India CSR): In a significant move to boost youth employment, the government has rolled out an ambitious internship programme that aims to provide one crore internships over the next five years. Announced in the Union Budget 2024, the scheme offers financial assistance of Rs 60,000 annually to each intern and will include insurance coverage. The initiative is set to have a total budget of Rs 800 crore for the fiscal year 2024-25, with an initial target of 1.25 lakh internships.
Prime Minister’s Internship Scheme Begins December 2024
The internship scheme, formally known as the Prime Minister’s Internship Scheme in Top Companies, will commence on December 2, 2024. In its first phase, it aims to place 1.25 lakh young individuals into internships, with the broader objective of reaching 1 crore over the next five years. These internships will offer Rs 5,000 per month in financial assistance, with Rs 4,500 provided by the government and Rs 500 contributed by participating companies as part of their Corporate Social Responsibility (CSR) funds. Interns will also receive a one-time grant of Rs 6,000 for incidental expenses.
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Online Portal to Facilitate Internships
The India government has developed an online portal through the Ministry of Corporate Affairs to manage the programme. Starting from the second week of October 2024, eligible candidates will be able to register and apply for internships. The portal will feature internship opportunities from top companies, which have been identified based on their CSR expenditure over the last three years. This will ensure that companies with a strong commitment to CSR take the lead in offering meaningful work experiences for young people.
Candidates can apply for up to five internship opportunities through the portal, which will allow them to browse listings based on sector, role, and location preferences. Each participating company will have a dedicated dashboard to post opportunities, detailing the internship’s location, qualifications required, and other specifics.
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Eligibility Criteria and Training Details
The scheme is open to youth aged between 21 and 24, with varying educational backgrounds. Eligible candidates include those who have passed High School, Higher Secondary, ITI holders, Polytechnic diploma holders, and graduates with degrees such as BA, B.Sc., B.Com., BBA, and more. Additionally, those enrolled in online or distance learning programmes are also eligible to apply, expanding the scheme’s reach to a broader pool of candidates.
Internships under this programme will last for 12 months, with a minimum of half the time required to be spent in actual job settings rather than classrooms. This hands-on experience is designed to equip interns with practical skills and real-world exposure, better preparing them for full-time employment.
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Insurance and Financial Security for Interns
In addition to financial support, the government has ensured that interns will be covered under its insurance schemes, including the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. The premium for these insurance policies will be paid by the government, offering further financial security to participants.
Partner companies, in addition to contributing Rs 500 per month per intern from their CSR funds, will bear the training costs associated with the interns. This ensures that the companies involved have a vested interest in providing high-quality, skill-building experiences to their interns.
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Voluntary Participation for Companies
While the government has identified key companies to spearhead the pilot phase, participation in the scheme is voluntary. Any company, financial institution, or bank can apply to be a part of the programme, subject to approval from the Ministry of Corporate Affairs. The ministry will consider factors such as the company’s sector and its representation among the top 500 companies before granting approval.
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Focus on leveraging CSR funds
This flexibility allows the scheme to cater to under-represented sectors, ensuring a diverse range of internship opportunities for candidates across industries. The scheme’s focus on leveraging CSR funds aligns with the government’s broader goal of encouraging corporate engagement in youth development and social responsibility.
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A Promising Path for Youth Empowerment
The Prime Minister’s Internship Scheme is set to be a transformative programme, providing millions of young Indians with the opportunity to gain valuable work experience and financial security. By coupling financial assistance with practical training and insurance coverage, the scheme promises to equip a generation of youth with the skills and resources they need to succeed in the workforce.
This internship programme marks a crucial step towards bridging the gap between education and employment in India.
Key Facts: Government’s Pilot Internship Scheme
The Government of India has launched a major internship scheme aimed at empowering youth through skill-building and financial assistance. Below are the key facts related to the scheme:
| Total Internships Planned | 1 crore over the next five years |
| Annual Financial Assistance per Intern | Rs 60,000 per annum |
| Pilot Project Budget (2024-25) | Rs 800 crore |
| Internships in First Year (2024-25) | 1.25 lakh candidates |
| Monthly Stipend | 12 months, with at least 50% time spent in the actual job environment |
| Additional One-time Grant | Rs 6,000 for incidental expenses |
| Insurance Coverage | PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, premium paid by the government |
| Eligibility | Youth aged 21-24, High School graduates, ITI, Polytechnic diploma holders, or degree holders |
| Internship Duration | 12 months, with at least 50% time spent in actual job environment |
| Start Date of Scheme | December 2, 2024 |
| Portal Registration Start | Rs 5,000 (Rs 4,500 from the government, Rs 500 from CSR funds) |
| Participation | Voluntary for companies, based on CSR expenditures over the last three years |
(India CSR)
