To enhance youth employability, the Central Government has initiated the PM Internship Scheme 2024. Online applications will open on October 12, allowing selected candidates to participate in a year-long internship. Each intern will receive a monthly stipend of Rs 5,000 and a one-time payment of Rs 6,000 at the internship's start. Finance Minister Nirmala Sitharaman announced the scheme during her budget speech, which aims to skill 1 crore youth over five years by providing internships at the top 500 companies in India.
The government plans to offer internships to 1.25 lakh youth this financial year, with an expected expenditure of Rs 800 crore. Several companies have expressed interest, including EaseMyTrip, which plans to hire over 500 interns in the next 3 to 6 months.
Registration for the PM Internship will begin at midnight on October 12, and interested candidates can apply at www.pminternship.mca.gov.in. The shortlisted candidates will be provided to companies by October 26, with the auspicious day of Vijayadashami chosen for portal registration. Currently, 111 companies and states like Maharashtra, Uttarakhand, Telangana, and Gujarat are involved in this scheme.
Internships are set to begin on December 2, 2024, following final selections from October 27 based on the shortlisted candidates. Interns under this scheme will also receive insurance coverage through the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana, with the government covering the premium. Companies may offer additional accident insurance.
Eligibility for the PM Internship Scheme requires candidates to be aged 21 to 24 and have a family income not exceeding Rs 8 lakh per year. Those currently enrolled in formal degree courses or employed are ineligible, although they may participate in online courses or vocational training.