CORPORATE
PM Internship Scheme postponed, review of results of pilot project underway
- IBJ Bureau
- Dec 02, 2024
The highly-anticipated rollout of the PM Internship Scheme, initially scheduled for December 2, has been postponed. While no new date has been set, officials assure that the scheme will be launched in the coming weeks.
“The learnings from the pilot phase need to be thoroughly reviewed before the official launch. A new date will be announced soon,” a source familiar with the matter has said.
The ambitious initiative, introduced in the Union Budget 2024-25 as a part of the Prime Minister’s employment and skilling package, aims to enhance youth employability by offering internships in leading companies. The pilot phase targeted 1.25 lakh students for year-long internships, and the broader vision involves engaging 1 crore students over the next five years.
In the pilot phase, companies listed 1.27 lakh internship opportunities, receiving an overwhelming 6.21 lakh applications. Registrations for the programme were open between October 12 and November 15 2024, through a dedicated portal.
An allocation of Rs 2,000 crore was made in the Budget for 2024-25, of which Rs 6.04 crore had been utilised by November 20. Eligible candidates aged 21 to 24 and having completed at least Class 10 will receive a one-time allowance of Rs 6,000 and a monthly stipend of Rs 4,500 from the government. Participating companies will contribute an additional Rs 500 per month.
The list of 500 top companies participating in the scheme is based on their average corporate social responsibility (CSR) expenditure over the past three years. Participation remains voluntary.
While the delay may temporarily stall the programme, its long-term goal of equipping India’s youth with practical experience in premier companies remains steadfast, the source has added.
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