PM Internship Scheme Overview:
- Introduced in Union Budget 2024-25.
- Targets top 500 companies to provide internship opportunities to one crore youth over five years.
- Interns receive a monthly stipend of ₹5,000.
- Companies can use CSR funds for stipends and training costs.
Key Insights from TeamLease EdTech Study:
- Internships are increasingly viewed as entry-level jobs.
- 81% of surveyed companies support the PM Internship Scheme.
- 73% intend to hire at least 10% of their interns as full-time employees post-internship.
Focus Areas & Trends:
- Over 76% of companies prioritize tech roles in their internship programs, reflecting demand for digitally skilled talent.
- 30% plan to allocate up to 20% of CSR budgets to internships.
- 81% advocate expanding the scheme to all corporations.
Internship Structure & Efficiency:
- Short-to-medium-term internships (1-6 months) considered optimal by 70% of respondents.
- 32% prefer partnerships with universities and other corporations to maximize impact.
Social and Economic Impact:
- 54% of companies anticipate measurable Social Return on Investment (SROI) within 1-2 years from CSR-driven internships.
- Internships seen as bridging skill gaps and enhancing employability among Indian youth.
Future Prospects & Discussions:
- Discussions underway to potentially expand the scheme to smaller companies.
- The scheme aligns with India Inc.’s goals to transform education into employability through focused CSR initiatives.
