Prime Minister Internship Scheme
- Launched: October 3, 2024 (Pilot Project)
- Objective: To provide 1.25 lakh internship opportunities to youth during 2024-25, focusing on Tier II and III cities
- Duration: 12 months
- Financial Assistance:
- Monthly stipend of Rs 5,000
- One-time grant of Rs 6,000
- Target: To provide internship opportunities to one crore youth in the top 500 companies over five years
Implementation and Monitoring:
- The scheme is managed by the Ministry of Corporate Affairs, which identified the top 500 companies based on their average CSR expenditure over the past three years.
- More companies beyond the top 500 are expected to join the initiative.
- A framework for assessing the implementation of the project has also been introduced.
Significance:
- Provides youth with industry-relevant skills and work experience.
- Aims to bridge the skill gap and increase employability in emerging sectors.
- Encourages corporate participation in nation-building and supports the vision of ‘Viksit Bharat’.
Recent Developments:
- Union Minister Nirmala Sitharaman launched a dedicated mobile application for the PM Internship Scheme to increase accessibility and participation.
- The scheme focuses on bridging the gap between industry expectations and the skillsets of youth.
- Sitharaman emphasized that there is no compulsion or interference on industries, encouraging voluntary participation for a national cause.
- Minister of State for Corporate Affairs Harsh Malhotra highlighted the scheme’s role in providing practical experience and contributing to ‘Viksit Bharat’.
Progress:
- In the first round (2024-25), over 1.27 lakh internship opportunities were provided by companies.
- The second round began in January 2025, with more than 1.18 lakh opportunities from 327 companies. The deadline for applications is March 31, 2025.
