The government recently rolled out the PM Internship Scheme on Thursday, October 3. Let’s see the 10 most important things to know about the programme.
The scheme will provide financial assistance of ₹60,000 per annum to 1 crore youth over a period of five years.
In 2024-25, the total cost of the pilot project will be around ₹800 crore and will look to provide internships to 1.25 lakh candidates.
The scheme will be implemented through an online portal developed by the Ministry of Corporate Affairs. Candidates can register themselves on the portal and apply for up to 5 relevant roles.
Companies will shortlist students according to their requirements, ensuring diversity and inclusion in the selection process. Students can register in the portal from the second week of October.
Youth aged between 21 and 24 years who are not engaged in any full-time employment will be eligible for the scheme. The internship programme will commence on December 2.
Students from prestigious universities like IITs and IIMs or with qualifications like CA or CMA are excluded.
Interns will receive a monthly stipend of ₹4,500 from the government, with an additional ₹500 from the companies as part of their corporate social responsibility (CSR).
Moreover, a one-time financial assistance of ₹6,000 will be provided to the interns in order to cover incidental expenses.
Expenses associated with the training of interns under the scheme will be covered by the companies from their CSR funds.
Insurance coverage will be provided to all interns under insurance schemes of the central government, PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.
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