Govt finalising details of PM Internship Scheme; to roll it out by Oct end

The central government is in the process of fine-tuning the guidelines for the launch of the Prime Minister Internship Scheme, which is expected by the end of this month, sources tell Business Today TV.

The Ministry of Corporate Affairs, leading the initiative, is currently in discussions with key stakeholders to roll out the scheme by October-end, sources confirmed.

Major corporate social responsibility (CSR) spenders such as Reliance Industries, Tata Consultancy Services, HDFC Bank, ONGC, Infosys, and NTPC are expected to be prioritised as the government finalises preparations for the scheme.

A dedicated portal, to be launched by the Ministry of Corporate Affairs, will serve as an aggregator where candidates can apply for internships based on available vacancies in participating companies. The portal will include a technical framework that matches applicants' skill sets with company requirements, facilitating opportunities for young applicants.

Each selected intern will receive a monthly stipend of Rs 5,000 for a year, in addition to a one-time grant of Rs 6,000. The government will cover the Rs 54,000 annual stipend and the one-time grant, amounting to a total of Rs 60,000 per intern. Participating companies will bear the cost of training and contribute 10 per cent of the monthly stipend (Rs 6,000 per intern) from their CSR funds.

Finance Minister Nirmala Sitharaman first announced the internship scheme in her full budget for 2024-25, presented in July. “Interns will gain 12 months of exposure to real-life business environments, diverse professions, and employment opportunities,” she stated.