The Pradhan Mantri Internship Scheme is a government scheme that helps young people to develop practical skills and prepare for jobs. Unemployed youths can get internships with this scheme in top companies of India, it provides hands-on experience as well as financial support.
This scheme was launched in October 2023 and it has a goal of helping more than 1 crore youngsters in the next five years to improve the employment in India.
In this article, I will explain the program’s goals, who can apply, how to register, the benefits it provides etc.
What is PM Internship Scheme?
The PM Internship Scheme brings young people with top companies in India. For participants who work in areas like finance, IT, manufacturing, and marketing, this scheme offers a 12-month internship to them. This hands-on experience helps them learn real skills, get a feel for how different industries work, and make their resumes stronger, which can lead to better job opportunities in the future.
Objectives of the Scheme
- This scheme helps young people gain real-world work experience in business.
- This scheme provides stipends and helps financially.
- This scheme aims to partner with top companies to train and develop skilled workers.
- This scheme is helping people learn the skills they need for jobs, which boosts their work efficiency and contributes in the growth of the economy.
Eligibility Criteria
To apply for the PM Internship Scheme, you need to meet these requirements:
| Criteria | Details |
|---|---|
| Age | 21-24 years (as of the application deadline). |
| Citizenship | Must be an Indian citizen. |
| Work Status | Cannot be in full-time employment. |
| Education | Full-time degree students are not eligible. |
| Learning Mode | Distance learning or online course students can apply. |
Top Companies Participating
Under PM Internship Scheme, below are top companies which are offering the internships:
- Tech Mahindra
- Mahindra & Mahindra
- Larsen & Toubro
- Bajaj Finance
- Eicher Motors
- Jubilant Foodworks
These companies offer great chances for participants to learn real job skills and gain experience in different industries.
Benefits of PM Internship Scheme
The PM Internship Scheme offers many benefits for both interns and companies:
1. Financial Support
- Interns receive financial help to manage their living costs.
- Monthly Stipend: They receive ₹4,500 from the government (via Direct Benefit Transfer) and ₹500 from the company.
- One-Time Grant: When you join the program, they get ₹6,000 to cover their costs.
2. Skill Development
- Interns learn new skills by working in the real work environment.
- They also learn professional behavior and understand the rules expected in a job, which makes them ready for the workplace.
3. Insurance Coverage
- Interns are covered under two government-backed insurance schemes:
- Pradhan Mantri Jeevan Jyoti Bima Yojana for life insurance.
- Pradhan Mantri Suraksha Bima Yojana for accident insurance.
4. Corporate Social Responsibility (CSR) Contribution
- Each intern gets ₹500 per month by the company from CSR funds.
- This ensures companies are involved actively in helping to train and make skilled workers.
5. Employment Opportunities
- The interns who work hard can get job offers from the companies they are working for, this increases their chances of getting a permanent job.
Also, check: PM Vishwakarma Yojana 2024: Loan Up to Rs 3,00,000 Lakh
How to Apply for PM Internship Scheme?
You can easily apply for the PM Internship Scheme. Here are the steps:
- You need to go to the official portal managed by the Ministry of Corporate Affairs.
- Here, you need to create a profile with your personal details, education, and other necessary information.
- The authorities will review your application. You just need to ensure that all the details you provide are correct.
- The companies will look into the profile of the candidate and select based on the profile requirements.
- The candidate needs to join the company as soon as they are selected.
Key Sectors Covered
The PM Internship Scheme provides opportunities in many different industries. Here are a few:
- Information Technology (IT)
- Manufacturing
- Finance and Banking
- Retail and Marketing
- Healthcare
- Telecommunications
This provides opportunities to the candidates to try different types of work and learn new skills.
Target and Achievements
The PM Internship Scheme has a goal to give internships to 1 crore young people in the next five years. The government expects to exceed its original goal of offering 1,00,000 internships by the end of 2023. Till now, 200 companies in different industries have offered over 80,000 internships.
Also Check: Pradhan Mantri Awas Yojana 2024
FAQs About PM Internship Scheme
Indian citizen aged between 21 and 24 years and not in full-time employment, can apply for this scheme. Students in distance learning or online courses are also eligible.
No, full-time students pursuing regular degree programs are not eligible for this scheme.
The internship duration is for 12 months.
Interns will receive a monthly stipend of ₹4,500 from the government and ₹500 from the company with a one-time financial help of ₹6,000.
You can register online by creating a profile on the official portal managed by the Ministry of Corporate Affairs.
No, there is no application fee for registering under the scheme.
While a job is not guaranteed, interns working efficiently may be offered permanent roles by their host companies.
Advantages for Companies
The PM Internship Scheme also benefits companies in several ways:
- Companies can hire interns hassle-free without going through traditional hiring steps.
- The stipend contribution helps companies to complete their corporate social responsibility (CSR) commitments.
- Companies can train and keep talented workers who meet their specific needs.
Challenges in Implementation
Although the PM Internship Scheme has many benefits, it also has some challenges:
- Awareness: Many eligible candidates don’t know about this program.
- Selection Bias: Candidates from cities may have an advantage over those from rural areas because of access of technology and internet.
- Monitoring and Evaluation: It’s important to make sure that training quality and stipends are fair in all companies.
Conclusion
The PM Internship Scheme is a great program that helps connect what people learn in school to the skills needed for real jobs. It helps young people develop the skills needed for the job market by offering practical training, financial support, and exposure to corporate culture.
The candidates who are eligible has a great chance to get a real work experience, earn stipend and build a successful career. Both companies and government are working together to make a better workspace for the young people.
If you are eligible for this scheme then register today for a brighter future.
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