Prime Minister Internship Scheme: Union Finance Nirmala Sitharaman announced an internship program in Budget 2024 to hone the skills of the youth. Under this scheme, a target has been set to skill one crore youth in the next five years in the top 500 companies. The Ministry of Company Affairs has started the pilot project of this scheme.
PM Internship Scheme: The government has brought a gift on Dussehra for the educated economically weaker youth. Prime Minister Internship Scheme has been started before Dussehra. Only those young men and women will be eligible to apply in this scheme, whose family income is less than eight lakh rupees per annum.
The reservation rule of the central government will also be applicable in this scheme. That is, Scheduled Castes, Tribes and OBCs will get reservation but only those who are economically weak will be eligible.
What is Prime Minister Internship Scheme
The internship scheme was announced in the budget this year, under which a target has been set to skill one crore youth in the next five years in the top 500 companies. The Ministry of Corporate Affairs has started the pilot project of this scheme.
Under this, in the current financial year 2024-25, 1.25 lakh youth will be provided an opportunity to acquire training and skills to make them employable. The duration of training and skill development will be 12 months and during this period they will also be given financial assistance of Rs 5000. The central government will give Rs 4500 per month and the company will give Rs 500 to them from its social responsibility fund. Apart from this, a lump sum amount of Rs 6000 will also be given to all the selected candidates by the Ministry of Corporate Affairs.
That is, the candidates receiving training will get financial assistance of Rs 66 thousand in a year. All the amounts will be given directly to the candidates’ account. This internship scheme will put a financial burden of Rs 800 crore on the central government in the current financial year.
Finance and Company Affairs Minister Nirmala Sitharaman said that this is a complete internship program. The effort will be to give the selected candidates an opportunity to train in their own district or nearby district. To run this entire program, the Ministry of Corporate Affairs has created a portal and everyone can access that portal by visiting pminternship.mca.gov.in.
How to apply
Sitharaman said that this portal has been opened for companies from October 3. Corporate companies will make their offers for the training program on the portal till October 10. Interested eligible candidates will be able to apply for training from October 12, i.e. Dussehra day, to October 25.
On October 26, the Department of Corporate Affairs will release the list of eligible candidates which will be sent to the companies. From October 27 to November 7, companies will select candidates according to their needs and candidates will be informed about it. Candidates will be able to accept the offer of the companies between November 8-15 and their internship program will start from December 2.
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Minister of State for Corporate Affairs Harsh Malhotra said that 111 corporate companies have so far agreed to the internship program at their places. These also include companies like Mahindra & Mahindra and Max Life. Most of the companies are associated with agriculture and related sectors along with automobiles and pharma sector.
Eligibility for internship scheme
10th or 12th pass ITI certificate holders, diploma holders from polytechnic institute, or BA, BSc, B.Com, BCA, BBA, B.Pharma degree holders can participate in this internship scheme.
On the other hand, students holding degrees from IIT, IIM, National Law University, IISER and Triple IIT, CA, CS, BDS, MBBS or already participating in any government internship program will not be eligible for PM Internship Program.
If any of the parents is a permanent or regular employee in the government, then such children will also not be able to participate in this program.
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