The Government has revised the Corporate Social Responsibility (CSR) guidelines for Central Public Sector Enterprises (CPSEs), adding the Prime Minister’s Internship Scheme to the common CSR themes for 2024-25. This new focus aligns with existing priorities like health and nutrition, ensuring CPSEs direct 60% of their CSR funds to these areas.
New Focus on Youth Development
The Ministry of Corporate Affairs has begun enrolling companies and interns for the PM’s Internship Scheme, an initiative aimed at providing internship opportunities to 1 crore youth over five years. Launched by Finance Minister Nirmala Sitharaman in the 2024-25 Budget, the scheme targets youth aged 21-24, offering internships in India’s top 500 companies.
An official stated, “By combining health, nutrition, and youth development, the government aims to create impactful changes through CPSEs’ CSR contributions.”
Internship Details and Financial Assistance
The 12-month internship program begins on December 2, 2024, and is expected to cover 1.25 lakh candidates in the first year. Interns will receive monthly financial assistance of Rs. 5,000, with Rs. 4,500 contributed by the government and Rs. 500 by participating companies from their CSR funds. Additionally, a one-time grant of Rs. 6,000 will be provided for each intern.
Private Sector Collaboration
The scheme encourages the private sector to lead in offering internship opportunities, with CPSEs also expected to play a crucial role. Registration is open until October 25, with companies selecting candidates from October 27 to November 7.
An official added, “The PM’s Internship Scheme is a step towards equipping the youth with real-world experience while supporting the nation’s development through corporate engagement.”
