Are you a young individual looking to kickstart your career with hands-on experience in top companies? Do you want to gain practical skills while earning a stipend? The Prime Minister Internship Scheme 2024 offers you a golden opportunity. This comprehensive guide will walk you through everything you need to know about the scheme, including eligibility, benefits, the application process, and more.
Internship Scheme for 1 Crore Youth Announced
The Government of India has introduced the Prime Minister Internship Scheme to provide employment opportunities to 1 crore unemployed youth across the country. This initiative aims to equip young individuals with essential experience and skills to secure jobs easily. As per the announcement by the Finance Minister, eligible candidates must visit the official website and complete the application form online to avail the benefits of this scheme.
PM Internship Scheme Official Launch on 3rd Oct
The official launch of the Prime Minister Internship Scheme is scheduled for October 3, 2024. This one-year program is designed to enhance youth employability and skills by offering internships in India’s top 500 companies. The initiative, part of the Prime Minister’s Package for Employment and Skilling, was first announced in the Union Budget. Interested candidates can apply through an internship portal that will also be launched on the same day.
The Objective of the Youth Internship Scheme
The primary objective of the Youth Internship Scheme is to provide Indian youth with valuable experience in the corporate world, thereby improving their employment prospects. Selected interns will receive a monthly stipend of up to INR 5000, along with a one-time financial assistance of INR 6000. Interns will have the opportunity to work in top companies, gaining practical skills and reducing their dependence on others for daily expenses.
Helpful Summary of Prime Minister Internship Scheme
- Name of the scheme: Prime Minister Internship Scheme
- Introduced by: Government of India
- Objective: Provide internship opportunities
- Beneficiaries: Youth of India
- Official website: Prime Minister Internship Scheme
Eligibility Criteria
To be eligible for the Prime Minister Internship Scheme, applicants must meet the following criteria:
- Permanent resident of India
- Aged between 21 and 24 years old
- Not engaged in full-time employment
- Completed Secondary School Certificate (SSC) or its equivalent, Higher Secondary Certificate (HSC) or its equivalent, or hold a certificate from an Industrial Training Institute (ITI), a Polytechnic diploma, or a graduation degree like BA, B.Sc, B.Com, BCA, BBA, or B.Pharma
Ineligibility Criteria
Applicants are ineligible if they:
- Are engaged in full-time employment or education
- Graduated from IITs, IIMs, National Law Universities, IISER, NIDs, or IIITs
- Hold degrees like CA, CMA, CS, MBBS, BDS, MBA, PhD, or any master’s degree
- Are enrolled in any government skill, apprenticeship, or internship program
- Completed apprenticeships under NATS or NAPS
- Have a family income exceeding Rs. 8 lakh for FY 2023-24
- Have a family member (self, parents, spouse) who is a permanent/regular government employee (excluding contractual employees)
Schedule of Prime Minister Internship Scheme
- Start Date: October 3, 2024
- Company Registration and Internship Posting: October 3-11, 2024
- Candidate Application Start Date: October 12, 2024
- Internship Duration: One year
Education Qualifications
Candidates must have completed high school or higher secondary school, hold ITI certificates, diplomas from polytechnic institutes, or possess degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and others.
Benefits of the Prime Minister Internship Scheme
- Enhances job prospects by providing practical work experience in top companies
- Offers hands-on training in industry-relevant skills
- Monthly stipend of Rs. 4,500 from the government and Rs. 500 from companies
- Provides exposure to real-world working environments
- Opportunities to intern at India’s top 500 companies
- Encourages youth from various backgrounds to join the workforce
- Ensures a transparent and fair selection process
- Aims to train over 10 million youth over five years
- Allows companies to collaborate with partners for comprehensive internship experiences
Financial Assistance and Monthly Stipend
Selected interns will receive:
- Financial Assistance: INR 6000 (one-time grant)
- Monthly Stipend: Up to INR 5000
Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Address Proof
- PAN Card
- Ration Card
Salient Features
- One-year internship program
- Monthly stipend of Rs. 4,500 from the government and Rs. 500 from companies
- Dedicated online portal for internship applications
- Internships in top 500 companies
- Automated, fair selection process
- Two-phase implementation, aiming to train 10 million youth over five years
- Interns must spend at least six months in a real-world working environment
Partner Company Criteria
- Shortlisted based on average CSR expenditure over the last three years
- Approval from the Ministry of Corporate Affairs for underrepresented sectors or regions
- Can partner with supply chain companies or other institutions
READ MORE : Get an Internship at UNDP in 2024: Simple Steps to Follow
Financial Assistance (Support)
Support and Benefits
- Operates as a Direct Benefit Transfer (DBT) program
- Monthly assistance of Rs. 5,000 for 12 months
- Rs. 500 per month from the company, Rs. 4,500 from the government
Grant for Incidentals
- One-time grant of Rs. 6,000 for incidentals
Training Cost
- Covered by the company using CSR funds
Administrative Cost
- Up to 5% of CSR spending on administrative costs
Insurance Coverage
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
Implementation in Phases
Phase 1
- Targets 3 million youth over two years
Phase 2
- Aims to train an additional 7 million youth over three years
Internship Portal Launch
The dedicated portal for the Prime Minister Internship Scheme will launch on October 3, 2024, allowing candidates to apply for internships with top companies.
Prime Minister Internship Scheme Application Process 2024
Login for the Prime Minister Internship Scheme
Candidates can log in to the official portal to apply.
Download Guidelines
Detailed guidelines will be available on the official portal.
Contact Details
For any queries, candidates can refer to the contact details provided on the portal.
Important Downloads
All necessary documents and guidelines can be downloaded from the official website.
#WATCH | Presenting Union Budget, Finance Minister Nirmala Sitharaman says, "The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000." pic.twitter.com/v95f2PKTwV
— ANI (@ANI) July 23, 2024
FAQs
What is the Prime Minister Internship Scheme?
The Prime Minister Internship Scheme is an initiative by the Government of India to provide internships to 1 crore youth in top companies, enhancing their employability and skills.
Who is eligible for the scheme?
Applicants must be permanent residents of India, aged between 21 and 24, and not engaged in full-time employment or education.
What is the stipend amount?
Selected interns will receive a monthly stipend of Rs. 4,500 from the government and Rs. 500 from companies.
How can I apply?
Interested candidates can apply through the official portal starting from October 12, 2024.
Are there any exclusions?
Yes, graduates from IITs, IIMs, National Law Universities, IISER, NIDs, or IIITs, and holders of advanced degrees are ineligible.
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