PM Internship Scheme: All You Need to Know
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Aug 5 2024
Finance Minister, in her budget speech, announced a scheme offering internships to 1 crore youths in the top 500 companies over 5 years
Interns will gain 12 months of exposure to business environments, receive a Rs 5,000 per month allowance, and a one-time Rs 6,000 aid
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The scheme's first phase lasts 2 years, followed by a 3-year second phase
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Companies will cover training and 10% of internship costs from corporate social responsibility (CSR) funds
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Applications for internships will be submitted via an online portal, details of which will be announced later
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The scheme targets youth aged 21-24 who are not employed or in full-time education
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Companies will select interns based on objective criteria, focusing on those with lower employability; participation is voluntary
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Ineligible candidates include those with IIT, IIM, or IISER qualifications, or whose family members hold government jobs or are income tax assessees
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