The Union Government inaugurated the Prime Minister’s Internship Scheme on Thursday, October 3, as stated in the Budget after Prime Minister Narendra Modi’s National Democratic Alliance won power for the third time. According to insiders, the initiative would give young people with five-year internships at top 500 corporations.
The Ministry of Corporate Affairs (MCA) recently introduced a new plan. In this plan, the ministry would give real-world business experience to young people aged 21 to 24 from diverse industries. The program is intended to promote employability via practical experience. Managing the scheme: www.pminternship.mca.gov.in; partner firms can now offer internship opportunities. Candidate registration will begin in the second week of October 2024.
| Aspect | Details |
|---|---|
| Purpose | To expose interns to business environments, enhancing their knowledge and career prospects. |
| Certification | Partner companies will issue certificates upon successful completion of the internship. |
| Internship Stipend | Each intern will receive Rs 5,000, divided as follows: |
| – Government Contribution: Rs 4,500 | |
| – CSR Contribution by Company: Rs 500 | |
| Incidental Allowance | A one-time incidental allowance of Rs 6,000 will be granted by the Ministry of Corporate Affairs (MCA). |
| Additional Assistance | Companies may choose to provide more than Rs 500 in incidental costs with adequate monthly assistance if desired. |
Key Eligibility Criteria
| Eligibility Criteria | Details |
|---|---|
| Age Requirement | Indian nationals aged between 21 and 24 years. |
| Employment Status | Not employed full-time or engaged in full-time education; candidates in distance learning are eligible. |
| Educational Qualification | Must have completed high school or higher secondary school, or hold certificates from: |
| – ITIs | |
| – Polytechnic diplomas | |
| – Undergraduate degrees (e.g., BA, B.Sc., B.Com, BCA, BBA, etc.) | |
| Ineligible Candidates | Candidates from top institutions (IITs, IIMs, National Law Universities) or those with professional degrees (MBA, CA, MBBS). |
| Family Income Limit | Candidates whose family income exceeds Rs 8 lakh are not eligible. |
| Family Employment Status | Candidates with family members in permanent government jobs are also ineligible. |
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Source: Republic India
