Source: This post on PM Internship Scheme Pilot Project has been created based on the article “Around 6.5 lakh applications come in for PM’s Internship Scheme pilot project” published in The Hindu on 19th November 2024.
Why in news?
Recently, the pilot project for the PM Internship Scheme received 6.5 lakh applications by the deadline, which was extended from November 10 to November 15.
About the scheme
1. The Prime Minister’s Internship Scheme was announced in the Budget 2024-25.
2. Aim: It aims to provide one crore internships in top companies over five years, with a 12-month pilot project targeting 1.25 lakh youth in FY 2024-25.
3. The program enables real-world business exposure, focusing on bridging the gap between academic learning and industry demands.
4. Pilot Project Goals: The scheme aims to provide on-the-job training to 1 crore youth over five years.
5. In the pilot phase, 1.27 lakh internship opportunities were offered by 280 companies, including Tata Steel, ITC Limited, ICICI Bank, and the Mahindra Group.
Key Features of the Pilot Project:
1. Eligibility: Youth aged 21–24 (as of the application deadline), not in full-time employment or education.
Candidates must have completed high school, ITI, diploma, or undergraduate degrees (e.g., BA, B.Sc, B.Com).
Exclusions: Graduates from IITs, IIMs, NLUs, and similar institutions, holders of higher professional degrees, those earning over ₹8 lakh annually, or having a regular government employee in the family.
2. Each applicant could apply for up to five different internships, so the total number of applications does not represent unique applicants.
3. Internship Structure: The duration is of 12 months with at least half spent in a working environment. Interns receive ₹5,000/month: ₹500 from the company’s CSR funds and ₹4,500 from the government via DBT. A one-time grant of ₹6,000 covers incidental expenses.
Companies bear training costs through CSR funds and can utilize 5% for administrative costs.
4. Participation: Top 500 companies (based on CSR expenditure) and other eligible entities can join voluntarily. Companies may also collaborate with supply chain partners or group entities.
5. Implementation: An online portal manages applications, shortlisting, and selection. Candidates can apply to five internships, prioritized for inclusivity and diversity. Companies issue offers and monitor interns’ progress.
6. Completion: Interns receive completion certificates and ongoing performance evaluation. Dropouts will be ineligible for future cycles.
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