India’s PM Internship Scheme achieves milestone with 1.27 lakh offers

PM Internship Scheme: India’s commitment to empowering its young workforce

India has achieved a significant milestone with the PM Internship Scheme (PMIS), as approximately 280 companies have registered 1.27 lakh internship offers.

This initiative aims to tackle youth unemployment by connecting young people with prominent organizations seeking talent.

The onboarding window for companies to participate in the scheme has now closed, having opened on October 3. However, the registration window for youth remains open until early November.

Launched in the Union Budget 2024 by Finance Minister Nirmala Sitharaman, the PMIS has an allocation of Rs.800 crore for this pilot program, which aims to benefit around 10 million young individuals over the next five years.

Administered by the Ministry of Corporate Affairs, the scheme allows the top 500 companies by average Corporate Social Responsibility (CSR) spending to offer valuable internship opportunities.

Notable companies participating in this initiative include Mahindra & Mahindra, Tata Consultancy Services, and Reliance Industries, among others. The scheme encompasses various sectors, including oil and gas, automotive, banking, and IT, with opportunities available in 737 districts across 28 States and 8 Union Territories.

Selected interns will receive a monthly stipend of Rs.5,000, with Rs.500 contributed by companies through their CSR funds and Rs.4,500 from the government, along with a one-time grant of Rs.6,000.

This initiative not only enhances employability for youth but also fosters collaboration between the government and the corporate sector, showcasing India’s commitment to empowering its young workforce.

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