Context

• The Union Corporate Affairs Ministry said that the pilot scheme of the Prime Minister’s Internship Scheme received approximately 6.21 lakh applications against 1.27 lakh opportunities.

About Scheme

• A pilot project of the scheme, started on October 3, aims to provide 1.25 lakh internship opportunities during 2024-25.
• The scheme was announced in the 2024 Union Budget.
• Budget of ₹2 lakh crore overall, with ₹2,000 crore allocated for the fiscal year 2024-25.
• Aim: To provide internship opportunities to one crore youth in the top 500 companies over five years.
• Implemented through an online portal managed by the Ministry of Corporate Affairs (MCA).
• Internship period: One year

PM Internship offers

• 12 months real-life experience in India's top companies
• Monthly assistance of ₹4500 by Government of India and ₹500 by Industry from CSR (corporate social responsibility) funds
• One-time Grant of ₹6000 for incidentals
• Insurance coverage for every intern under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana by Government of India

Eligibility Criteria

• Age: 21- 24 years.
• At least Class 10th, graduates from premier institutions (IITs, IIMs) and professional qualifications (CA) are excluded.
• Must not be in full-time employment.
• Family income must not exceed ₹8 lakh annually
• Families with government employees are ineligible.