Everything You Need To Know About The PM Internship Scheme

India is home to over 1.5 billion people, bringing together a rich mix of cultures, backgrounds, and experiences. With a large youth population, the country has a vibrant workforce eager to make a difference. However, youth unemployment and underemployment, especially in rural areas, are serious issues that need attention and so to bring change and growth in the country the Prime Minister of India launched the PM Internship Scheme, 2024.

As we all know that India, education in India is a complex issue, that includes both significant progress and ongoing challenges. Despite advancements, access to quality education remains inconsistent, leaving many individuals facing barriers that limit their educational and employment opportunities. As of 2023, India’s literacy rate stands at 77.7%, with urban areas (84.11%) outperforming rural regions (67.77%). This inequality places India around 105th in the global literacy index, underscoring the need for continued efforts to ensure equal access to education for all.

Why Is There A Need For An Internship Program?

An internship program is essential in addressing the significant barriers to education and employment in India. Many rural areas face geographical challenges with insufficient schools and trained teachers, while economic factors force families to prioritize immediate income over education, leading to high dropout rates. Additionally, social issues such as caste and gender discrimination further hinder access, particularly for girls and marginalized communities. Even when students attend school, they often encounter poor quality education, inadequate infrastructure, and a curriculum that doesn’t align with job market demands. 

Moreover, India grapples with high youth unemployment rates, as many graduates find themselves ill-prepared for the workforce due to a mismatch between their education and the skills required by employers. This is compounded by regional disparities in job availability and the prevalence of informal sector employment, which offers little stability. Thus, an internship program can help bridge this gap by providing practical experience and skill development, empowering young people to become more independent, financially stable, skillful and ultimately contribute to the workforce as well as the country.

About The Internship Scheme:

The Government of India, led by Prime Minister Narendra Modi, introduced the PM Internship Scheme in the 2024-25 Union Budget, presented by Finance Minister Nirmala Sitharaman. This initiative starts with a project offering 1.25 lakh internships across 24 sectors, including oil, gas, energy, travel, hospitality, automotive, and banking. There are a total of 500 companies involved that have been selected based on their corporate social responsibility (CSR) efforts over the past three years, ensuring that interns are placed with socially and ethically responsible organizations. The program’s registration process has already begun from the 12 October 2024 to the 25th October 2024. The internship begins for all selected candidates from the 2nd of December 2024.

Benefits for Interns:

Selected candidates will enjoy a one-year internship with top companies in India, gaining practical experience that can boost their chances of landing high-paying jobs. Each intern will receive a monthly stipend of ₹5,000—₹4,500 from the government and ₹500 from the company—along with a one-time grant of ₹6,000 from the government. Candidates will also receive an Internship certificate upon completion of the internship. This will also give them an idea of how the corporate world works and will provide them with learning and knowledge not only about their field of study but also various other fields.

Main Objectives:

The main objective of the PM Internship Scheme are as follows:

– Provide real-life work experience to job seekers in top companies  

– Eradicate employment issues in the country

– Teach essential skills through hands-on experience while studying  

– Financial support for candidates from low-income backgrounds  

– Networking opportunities with industry professionals  

– Build both soft and hard job skills  

Eligibility Criteria:

The PM Internship Scheme is open to a wide range of candidates, including those who have completed 10th or 12th grade, ITI graduates, polytechnic diploma holders, and graduates with degrees like BA, BCom, or BPharm. Candidates must be aged between 21 and 24 years. However, postgraduates and students from prestigious institutions such as IITs, IIMs, or those holding degrees in MBA, CS, CA, and MBBS are not eligible.

Participating Companies:

Currently, 193 companies have offered 90,000 internship opportunities on the official portal, contributing to a total of 155,000 positions available across 500 top companies. Notable participants include Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, Alembic Pharmaceuticals, Max Life Insurance, Eicher Motors, TCS, and ONGC, along with major names like ITC, Infosys, Wipro, and ICICI Bank. This presents a significant opportunity for emerging professionals to learn from industry experts and enhance their job prospects. 

How to Apply:

1. Applying for the PM Internship Scheme is straightforward and free:
2. Visit the official website: pminternship.mca.gov.in
3. Click “Register” to create an account using your email and phone number.
4. Complete your profile with personal details, educational background, and upload necessary documents.
5. Browse available internships and select positions that suit your qualifications and interests.
6. Submit your application once all details are filled out.
7. Your application will be reviewed by the respective organizations, and if selected, you will receive further instructions via email.

In conclusion, while India has made progress in increasing literacy and educational access, challenges remain. To address these issues, educating and providing the youth with hands-on experience in the field of study they want to the PM Internship scheme was launched as a comprehensive approach to focusing on improving unemployment rates, ensuring quality education, bridging the skills gap, and more. By tackling these barriers, India can better prepare its youth for the workforce, contributing to economic growth and social development.