As per the rules candidates who have passed Grade 10 (High School) and beyond and in the age group of 21-24 years are eligible to apply subject to riders. 
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As per the rules candidates who have passed Grade 10 (High School) and beyond and in the age group of 21-24 years are eligible to apply subject to riders. The Union government on October 3 launched the pilot project of the PM Internship Scheme, which is expected to benefit over one lakh candidates seeking internship opportunities.
The skill development programme was announced during Budget 2024 and sims to provide 1 crore youth with internships in India’s top 500 companies over five years.
While it does not guarantee a job upon completion, the practical experience and professional networks the intern develops during the internship will significantly enhance career prospects.
Business Today was able to get hold for few students, who have applied for the scheme.
One of the students said that the scheme offers a great opportunity for students to reach out big firms even though it is an internship. Moreover, as the internship comes with a certain amount of stipend it is another benefit as most companies in India do not pay for internship, the student added.
Students feel that it will be a value booster for their CVs but said that the conditions for application could have been a more lenient.
As per the rules candidates who have passed Grade 10 (High School) and beyond and in the age group of 21-24 years are eligible to apply subject to riders. For instance, graduates from IITs, IIMs, NLUs and those having qualifications such as CA, CMA, MBBS, BDS and MBA are not eligible to apply. Also, those undergoing any skill, apprenticeship training under central/state government schemes are ineligible.
Besides, individuals with family income exceeding Rs 8 lakh (in FY24) or has a member who is a permanent/regular government employee can’t apply for internship.
Applicants also feel safe about the scheme as it is backed by the government.
Speaking about the initiative a faculty member of one of the colleges said that the scheme is not only a great step by the government of India but it will also provide financial inclusion to the students.
This is going to be the game changer and will also fill the gap between academic and corporate world by providing requisite upskilling, the faculty said, adding that earlier there was no stipend now there is a provision of Rs 5,000 which can be increased in near future.
The government formally rolled out the scheme on October 3 on a pilot basis. An internship allowance of Rs 5,000 per month along with one-time assistance of Rs 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 percent of the internship cost from their CSR funds.
Steps to apply
The scheme will be implemented through the online portal ‘www.pminternship.mca.gov.in‘ developed by the corporate affairs ministry.
Companies can put up their requirement details on the portal till October 10 and it will open for candidates on October 12.
Candidates can register with minimum data in the portal from October 12 to 25 and the applicants will be shortlisted on October 26.
Companies will select candidates from October 27 to November 7. The shortlisted will get time from November 8 to 15 to accept offers. Up to three offers will be made to a candidate.
The internships will commence from December 2.
A total of 111 private sector companies have signed up for the government’s PM Internship Scheme, according to reports. The initiative, announced during the 2024-25 Budget, seeks to bridge the gap between academia and industry by offering practical experience to young professionals.
The top 500 companies for the scheme have been identified on the basis of their average CSR (Corporate Social Responsibility) expenditure in the last three years.
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