The Finance Minister of India announced the Prime Minister Internship Scheme 1 Crore Youth 2024. During the representation of the
education budget, the Finance Minister of India Mrs. Nirmala Sitharaman announce the launch of the Prime Minister Internship Scheme 1 Crore Youth 2024. Under this scheme, the government of India will provide internships to all students who have completed their education. The Government of India will also provide financial assistance and a monthly stipend to all selected applicants under the scheme. The financial assistance under the scheme will be transferred directly to the selected applicant’s bank account.
Internship Scheme for 1 Crore Youth Announced
To provide employment opportunities to the unemployed youth of India the Government of India introduced the Prime Minister Internship Scheme. As per the announcement by the finance minister of India a total of 1 crore youth will avail the benefits under this scheme. By providing internships, the Government of India will provide essential experience to the country’s youth, which will help them get a job easily. All applicants who clear the eligibility criteria must visit the official website and fill out the application form online to avail of the Prime Minister Internship Scheme 1 Crore Youth 2024 benefits.
PM Internship Scheme Official Launch on 3rd Oct
The Prime Minister Internship Scheme, aimed at enhancing youth employability and skills, will be launched on October 3, 2024. This one-year program targets young individuals aged 21-24 and offers 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. Candidates can apply through an internship portal that will also launch on the same day. The eligibility criteria state that applicants must not be in full-time jobs and should come from families without government employees.
Those who studied at prestigious institutions like IITs or IIMs are excluded, but youth from Industrial Training Institutes (ITIs) and skill centers can participate. Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 from companies through their corporate social responsibility (CSR) funds. The scheme will be implemented in two phases, training 10 million youth over five years.
The objective of the Youth Internship Scheme
The main objective of the Youth Internship Scheme is to help the youth of India gain some experience in the corporate world. With the help of this scheme, the youth will get employment opportunities. According to the Government of India, the selected youth under the scheme will receive a monthly stipend of up to INR 5000. Not only monthly stipend but the applicants will also receive a one-time financial assistance of INR 6000. The selected youth will get a chance to do their internship in the top 500 companies in India. With the help of this scheme, the unemployed youth did not have to depend on anyone for their day-to-day expenses anymore.
Helpful Summary of Prime Minister Internship Scheme
| Name of the scheme | Prime Minister Internship Scheme |
| Introduced by | Government of India |
| Objective | Provide internship |
| Beneficiaries | Youth of India |
| Official website | https://pminternship.mca.gov.in/ |
Eligibility Criteria
Here is the Prime Minister Internship Scheme Eligibility:
- Applicant should be a permanent resident of India.
- Applicants must be between 21 and 24 years old.
- Applicants should not be engaged in full-time employment.
- Candidates must have completed their 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
Here are the ineligibility criteria for the Prime Minister Internship Scheme:
- You cannot apply if engaged in full-time employment or full-time education.
- Graduates from IITs, IIMs, National Law Universities, IISER, NIDs, or IIITs are not eligible.
- Holders of degrees like CA, CMA, CS, MBBS, BDS, MBA, PhD, or any master’s degree are ineligible.
- You are ineligible if enrolled in any government skill, apprenticeship, or internship program.
- Those who have completed apprenticeships under NATS or NAPS cannot apply.
- Family income exceeding Rs. 8 lakh for FY 2023-24 disqualifies you.
- Any family member (self, parents, spouse) who is a permanent/regular government employee renders you ineligible (excluding contractual employees).
Schedule of Prime Minister Internship Scheme
The schedule of the Prime Minister Internship Scheme follows as:
- The scheme will officially start on October 3, 2024.
- Companies can register and post available internship positions from October 3 to October 11, 2024. This period allows companies to prepare and advertise the internships they are offering.
- Candidates can begin applying for internships starting on October 12, 2024.
- The internship program will run for a total of one year.
- Participants will receive a monthly stipend to support them during their internships
Education Qualifications
- The Prime Minister Internship Scheme is open to candidates who have completed High School or Higher Secondary School, hold ITI certificates, or 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
Here are the key benefits of the Prime Minister Internship Scheme:
- The scheme enhances job prospects for participants by providing practical work experience in top companies.
- The scheme offers hands-on training that equips interns with essential skills relevant to industry demands.
- Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 contributed by companies, ensuring financial assistance during the internship.
- It provides valuable exposure to real-world working environments, fostering a better understanding of professional dynamics.
- Opens opportunities to intern at India’s top 500 companies, improving participants’ professional networks.
- It encourages youth from various backgrounds, including those from ITIs and skill centers, to join the workforce.
- It ensures a transparent selection process, reducing bias and increasing fairness in candidate selection.
- The scheme aims to train over 10 million youth over five years, addressing the skill gap in the workforce.
- It allows companies to collaborate with partners for a more comprehensive internship experience.
Date of Announcement
- The scheme was announced on 23 July 2024 during the representation of the union budget for 2024-25.
Financial Assistance and Monthly Stipend
- The financial assistance of INR 6000 will be given to the selected applicants under the Prime Minister Internship Scheme 1 Crore Youth.
- The monthly stipend of up to INR 5000 will be given to the selected applicants under the Prime Minister Internship Scheme 1 Crore Youth.
- incidental and miscellaneous expenses.
- Interns will receive a fixed stipend of Rs. 5,000 per month from both the government and companies.
- Companies have the option to pay more than the fixed stipend if they choose.
- Any amount exceeding the Rs. 500 CSR contribution from companies will be entirely covered by the company and will not count towards their CSR expenditure.
Internship Portal Launch
The Prime Minister Internship Scheme will launch its dedicated portal on October 3, 2024, allowing youth to apply for internships with top companies. Participating companies will upload available positions, and applications can begin on October 12, 2024. The scheme is designed to boost youth employability by offering one-year internships in India’s top 500 companies. Youth can apply through the internship portal, also launching on the same day. Eligibility includes being unemployed, coming from families without government employees, and being excluded if they attended respected institutions like IITs or IIMs.
However, youth from Industrial Training Institutes (ITIs) and skill centers are encouraged to apply. Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 from companies’ CSR funds. This scheme will be implemented in two phases, aiming to train 10 million youth over five years.
- locations, and other criteria.
- Candidates can apply for up to five (5) internships that match their preferences.
Shortlisting and Selection
- Candidates will be shortlisted for each internship through the portal.
- Shortlisting will consider the candidates’ preferences and the requirements set by the companies.
- The process aims to promote diversity and inclusivity, prioritizing candidates from underrepresented groups (like Scheduled Castes, Scheduled Tribes, Other Backward Classes, and Persons with Disabilities).
- Companies will receive resumes of twice or thrice the number of available positions for selection.
- Companies will choose candidates based on their own selection criteria and processes.
- Once a company makes an internship offer, candidates can accept it through the portal.
Nature of Internship Offers
- An internship offer does not create any legal or contractual relationship between the Ministry, the company, and the selected intern.
- The offer does not guarantee future employment with the company or the Ministry, either during or after the internship.
Operational Guidelines
- Detailed operational guidelines for companies and youth participating in the program will be available on the portal.
Prime Minister Internship Scheme Application Process 2024
To apply for the scheme, follow the steps given below:
Step 1: Visit the official PM Internship website
Step 3: PMIS_Guidelines.pdf will appear on your screen.
Step 4: Click on the download sign on the top right corner.
Step 5: Guidelines will be downloaded to your device.
Contact Details
- Address: A Wing, 5th Floor, Shastri Bhawan, Dr Rajendra Prasad Rd, New Delhi-110001
- Toll-Free Number: 1800 11 6090
- Email ID: pminternship[at]mca.gov.in
Important Downloads
FAQs
What is the Prime Minister Internship Scheme?
It is a government initiative aimed at enhancing the employability and skills of youth through internships in top companies.
Who is eligible to apply for the scheme?
Youth aged 21 to 24 years, not engaged in full-time employment or education, and meeting specific criteria outlined in the eligibility guidelines.
What financial assistance will interns receive?
Interns will receive Rs. 5,000 per month for 12 months, with Rs. 4,500 funded by the government and Rs. 500 from the company based on attendance and conduct.
How will the application process work?
Candidates must register on the online portal, create a resume, and apply for up to five internship opportunities based on their preferences.
What is the role of the online portal?
The portal will facilitate the entire internship life-cycle, including posting opportunities, application processing, and managing financial assistance.
Are there any operational guidelines available?
Yes, detailed operational guidelines for companies and youth participation will be provided on the portal.
