Prime Minister’s Internship Scheme Offers Rs 5,000 Stipend And Insurance—Find Out Who Can Apply

In a major step towards tackling youth unemployment in India, the government has announced the official guidelines and eligibility criteria for the much-anticipated Prime Minister's Internship Scheme, aimed at top companies. This scheme is part of a pilot project with a budget of Rs 800 crore, designed to provide valuable work experience to young people and boost their employability.

The Prime Minister's Internship Scheme was first announced by Finance Minister Nirmala Sitharaman during her budget speech. It is aimed at individuals between the ages of 21 and 24, with the goal of helping them transition smoothly from education to employment through internships. Over the next five years, the scheme aims to provide internships to one crore young people at 500 top companies, effectively bridging the gap between theoretical learning and practical industry experience.

Photo Credit: PTI

Internship Scheme Details

The pilot project of this internship scheme was officially launched on October 3. An online portal developed by the Ministry of Corporate Affairs (MCA) has been set up to serve as a central platform for managing internship offers. This portal is now open for companies to participate, and they will have until October 10 to submit their internship offers. The portal will become fully active for public registration on October 12.

Interested applicants can register on the portal by October 12 at midnight. By October 26, a list of shortlisted candidates will be shared with participating companies. The final selection of interns will be completed by November 27, and the internships are set to begin on December 2, lasting for a period of 12 months.

Companies On Board

So far, 111 companies have already joined the scheme. States such as Maharashtra, Uttarakhand, Telangana, and Gujarat have also signed on. As of Thursday morning, there were already 1,077 internship positions listed on the website, with companies expressing preferences for roles related to production and maintenance.

The selection of partner companies is based on their Corporate Social Responsibility (CSR) spending. However, other companies can join the scheme with approval from the MCA. Internships may also be available in the supply chains of these companies, providing a wider range of opportunities for interns.

Internship Structure And Financial Support

Internships will be structured so that at least half of the 12-month period will be spent in real work environments, giving interns hands-on experience in their chosen field. To support the interns, the government will provide a monthly stipend of Rs 5,000, with Rs 4,500 coming from government funds and Rs 500 from the company's CSR contributions. Additionally, each intern will receive a one-time grant of Rs 6,000 to cover incidental expenses.

The government has also ensured that interns will be financially protected through insurance coverage under existing government schemes. This adds an extra layer of security for participants, allowing them to focus fully on their internships.

Support For Interns

To ensure a smooth process for both companies and interns, a dedicated grievance redressal mechanism and a multilingual helpline have been established. This will help resolve any issues that arise during the course of the internships, ensuring that the experience is positive and productive for everyone involved.

Who Can Apply?

Eligible candidates must meet specific educational and employment criteria. Applicants must have one of the following qualifications:

1. High School or Higher Secondary School Pass
2. ITI Certificate Holder
3. Diploma from a Polytechnic Institute
4. Graduate from any stream

However, students from premier institutions like IITs, IIMs, IISERs, NIDs, IIITs, and National Law Universities, or those pursuing Masters in fields such as CA, CMS, MBBS, CS, BDS, MBA, or similar subjects, are not eligible to apply. Similarly, individuals involved in any skill training programs run by Central or State Governments, or those who have completed apprenticeships under the National Apprenticeship Training Scheme (NATS) or National Apprenticeship Promotion Scheme (NAPS), are also excluded.

Eligibility Criteria

One important criterion for applicants is family income. Only candidates whose family income is below Rs eight lakh for the financial year 2023-24 are eligible to apply. This is to ensure that the scheme benefits those who may face financial barriers to entering the job market.

Documents Required To Apply

Candidates will need the following documents to complete their application:

1. Aadhar card
2. Educational certificates
3. Passport-size photo

Each applicant can apply for up to five internships at a time, allowing them to maximise their chances of securing a position.