The Prime Minister Internship Scheme 1 Crore Youth 2024 is a great opportunity for students! The Finance Minister of India, Mrs. Nirmala Sitharaman, announced this scheme while talking about the education budget. This is a big step in helping 1 crore youth in India.
The Prime Minister’s Internship Scheme has been launched, providing 1.25 lakh internships in top 500 companies during FY 2024-25, with an aim to create one crore opportunities in five years. Register between October 12 and 25 at the official website
Under this scheme, the Government of India will offer internships to all students who have finished their education. This means you can get real work experience which is super important for your future jobs!
But that’s not all! The government will also give financial help and a monthly stipend to all students chosen for the internship. This financial assistance is a great way to support young people. And guess what? The money will go straight into the bank accounts of the selected applicants. Isn’t that cool?
Internship Scheme for 1 Crore Youth Announced
To help young people in India who don’t have jobs, the Government of India started a program called the Prime Minister Internship Scheme. This scheme will help 1 crore youth get a chance to work and learn.
According to the finance minister, this is a great opportunity for those looking for jobs. By doing internships, youngsters in India will get valuable experience. This experience will make it easier for them to find good jobs in the future.
If you want to be part of the Prime Minister Internship Scheme 1 Crore Youth 2024, you need to check if you are eligible. Those who meet the requirements should go to the official website and fill out the application form online. Don’t miss this fantastic chance!
PM Internship Scheme Official Launch on 3rd Oct
The Prime Minister Internship Scheme is a great chance for young people to boost their skills and find jobs. This scheme will start on October 3, 2024. It’s a one-year program for youths aged 21-24. With this internship, you can work in India’s top 500 companies.
This scheme is part of the Prime Minister’s Package for Employment and Skilling. It was announced in the Union Budget, and many are excited about it! You will be able to apply through an internship portal, which will also start on the same day.
To be eligible, you shouldn’t have a full-time job. Also, you need to come from families that don’t have government employees. If you have studied in famous colleges like IITs or IIMs, you can’t apply. But don’t worry! Youths from Industrial Training Institutes (ITIs) and skill centers can apply and take part.
As an intern, you will get a monthly stipend of Rs. 4,500 from the government. Plus, companies will give you an extra Rs. 500 from their corporate social responsibility (CSR) funds. This scheme has two phases and aims to train 10 million youth in five years.
Youth Internship Scheme Objective
The Youth Internship Scheme is super important because it helps Indian youth get real experience in the corporate world. This scheme is awesome for young people because it gives them great employment opportunities. If you are selected, you can earn a monthly stipend of up to INR 5000!
But wait, there’s more! Besides the monthly stipend, all applicants who get selected will also receive a one-time financial help of INR 6000. This means more money to spend!
Being part of this scheme means you can do your internship at some of the top 500 companies in India. How cool is that? With the help of this scheme, unemployed youth won’t have to depend on anyone else for their daily expenses anymore. It’s a big step towards becoming independent!
Key Summary of the 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 |
Also Read: Digital India Internship Scheme
Eligibility Criteria
Here are the eligibility criteria for the Prime Minister Internship Scheme:
- Candidates must be between 21 and 24 years old.
- Applicants should not be engaged in full-time employment.
- Candidates from families with government employees are excluded.
- Individuals who studied at prestigious institutions like IITs, IIMs, or hold qualifications like CA or CMA are not eligible.
- Youth trained at Industrial Training Institutes (ITIs) and Kaushal Kendras (skill centers) can apply.
#WATCH | Presenting Union Budget, Finance Minister Nirmala Sitharaman says, “The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000.” pic.twitter.com/v95f2PKTwV— ANI (@ANI) July 23, 2024
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).
#WATCH | Presenting Union Budget, Finance Minister Nirmala Sitharaman says, “The Government will launch a scheme to provide internship opportunities to 1 crore youth in 500 top companies with Rs 5000 per month as internship allowance and one-time assistance of Rs 6000.” pic.twitter.com/v95f2PKTwV— ANI (@ANI) July 23, 2024
Schedule of Prime Minister Internship Scheme
Schedule of the Prime Minister Internship Scheme follow 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, diplomas from Polytechnic Institutes, or possess degrees such as BA, B.Sc, B.Com, BCA, BBA, B.Pharma, and others.
Prime Minister Internship Scheme Benefits
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.
#PMInternshipScheme | The Prime Minister’s Internship Scheme 2024 has officially launched today, aiming to empower 1 crore youth through internships in 500 leading companies across India.
Each intern will receive a monthly stipend of ₹5,000, with applications opening on… pic.twitter.com/zjqkcov6Kk
— DD News (@DDNewslive) October 3, 2024
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 2024.
- The monthly stipend of up to INR 5000 will be given to the selected applicants under the Prime Minister Internship Scheme 1 Crore Youth 2024.
Required Documents
- Aadhar Card
- Email ID
- Mobile Number
- Address Proof
- PAN Card
- Ration card
Salient Features
Here are the salient features of the Scheme:
- The internship program lasts for one year, providing a structured time-frame for skill development.
- Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 from companies through CSR contributions.
- A dedicated online portal will be launched for candidates to apply directly for available internship positions.
- Internships are offered in India’s top 500 companies, enhancing the quality of training.
- Selection will be conducted through an automated system to ensure fairness and eliminate bias.
- The scheme will roll out in two phases, aiming to train a total of 10 million youth over five years.
- Interns are required to spend at least six months in a real-world working environment to gain practical skills.
- Companies can collaborate with supply chain partners or other institutions to enhance the internship experience.
Partner Company Criteria
Here are the criteria for partner companies participating in the Prime Minister Internship Scheme:
- Shortlisted based on their average CSR expenditure over the last three years, as identified by the Ministry.
- Companies not in the initial list of 500 can still participate by obtaining approval from the Ministry of Corporate Affairs, especially if they represent underrepresented sectors or regions.
- Companies unable to provide internships directly can participate by partnering with:
- Companies in their supply chain (suppliers, customers, vendors).
- Other companies or institutions within their corporate group.
Financial Assistance (Support)
Here is the financial assistance breakdown for interns under the Prime Minister Internship Scheme:
Support and Benefits
- This scheme operates as a Direct Benefit Transfer (DBT) program, providing financial assistance directly to interns.
Monthly Assistance to Interns
- Interns will receive a monthly assistance of Rs. 5,000 for the entire 12 months of the internship.
- The payment will be divided as follows:
- Each month, the company will release Rs. 500 to each intern based on attendance and company policies.
- The remaining Rs. 4,500 will be transferred directly to the intern’s Aadhaar-linked bank account by the government.
- If a company wants to provide more than Rs. 500 per month, it can do so using its own funds.
Grant for Incidentals
- Interns will receive a one-time grant of Rs. 6,000 for incidentals when they start their internship.
- This amount will also be transferred directly to the intern by the government.
Training Cost
- Any costs related to training interns will be covered by the company using its Corporate Social Responsibility (CSR) funds, following existing rules.
Administrative Cost
- According to the Companies (CSR Policy) Rules, 2014, up to 5% of the CSR spending on this scheme can be used for administrative costs by the company.
Insurance Coverage
- Each intern will receive insurance coverage under government schemes:
- Pradhan Mantri Jeevan Jyoti Bima Yojana
- Pradhan Mantri Suraksha Bima Yojana
- The premium for these insurance policies will be paid by the government.
- Companies can also provide additional accident insurance coverage for their interns if they choose to.
Implementation in Phases
Here’s the information regarding the implementation of the Prime Minister Internship Scheme in phases:
- The scheme will be rolled out in two distinct phases.
- Phase 1 targets the skilling of 3 million youth over a duration of two years.
- Phase 2 aims to provide training to an additional 7 million youth over a span of three years.
- The government will provide an annual grant of Rs. 6,000 to interns to cover 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 is super cool because it will start a new portal on October 3, 2024! This portal will let young people apply for internships directly with big companies. It’s a great way for youth to find the right internships!
At first, the companies that join this scheme will upload their job openings. After that, from October 12, 2024, candidates can start sending their applications. How exciting is that?
This portal is designed to be really easy to use. It will make applying for internships easy and fair. This means everyone can see how candidates are chosen, making the whole process more open.
The main goal of this scheme is to help young people all over India. They will get real-time updates about which internships are available and the status of their applications. This is a big chance for students to get work experience!
Overall, this initiative is really important. It helps to connect education with jobs and gives lots of young individuals the chance to learn and grow in their careers.
No of Company Assigend
- A total of 500 companies are assigned with the Government of India for the implementation of the Prime Minister Internship Scheme 1 Crore Youth 2024.
Selection Process
Here’s the selection process for the Prime Minister Internship Scheme outlined in single points:
- Intern selection will be managed through a backend automated process to minimize bias.
- Companies will review the candidates automatically selected by the system.
- If a company is unsatisfied with the automatically selected candidates, the selection process will restart.
- A panel of government officials and industry representatives will oversee the selection process.
- The panel will ensure that the selection process is compliant and fair, addressing any issues that arise.
Implementation Process
Implementation Process of the Prime Minister Internship Scheme follows as:
Scheme Implementation
- The Prime Minister Internship Scheme will be run through an online portal https://pminternship.mca.gov.in/login/. This portal will act as a central place to manage the entire internship process.
Posting Internship Opportunities
- Each partner company will have a special dashboard on the portal to post available internships.
- Companies will provide details about each internship, including:
- Location of the internship
- Type of work involved
- Minimum educational qualifications required
- Any benefits or facilities offered by the company
Registration/Application Process for Candidates
- Eligible candidates must register on the portal.
- The portal will create a resume for each candidate based on the information provided.
- Candidates will have the option to browse internships by preferred sectors, job roles, 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 2: Complete the registration process by providing required personal and educational details.
Step 3: The portal will automatically generate a resume based on the information you provided during registration.
Step 4: Use the portal’s browsing facility to view available internship opportunities based on your preferences (sector, location, role, etc.).
Step 5: Apply for up to five internship opportunities that interest you, considering your qualifications and preferences.
Step 6: The portal will shortlist candidates based on their applications and the requirements posted by the partner companies.
Step 7: Companies will review the shortlisted candidates and send offers based on their selection criteria.
Step 8: Once you receive an internship offer, you can accept it through the portal.
Login for the Prime Minister Internship Scheme
To log in for PMIS, follow the steps given below:
Step 1: Visit the official website.
Step 2: On homepage click on the “Login” button.
Step 3: Enter Username / Mobile / CIN and then enter Password.
Step 4: Click on “Login” button to complete the login process.
Download Guidelines
To download guidelines, follow the steps given below:
Step 1: Visit the official website at https://pminternship.mca.gov.in/.
Step 2: On the homepage click on the “GUIDELINES” option.
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
FAQs
Who introduced the Prime Minister Internship Scheme 1 Crore Youth 2024?
The finance minister of India introduced the scheme Prime Minister Internship Scheme 1 Crore Youth 2024.
What is the monthly stipend to be given under the Prime Minister Internship Scheme 1 Crore Youth 2024?
The monthly stipend of INR 5000 will be given under the Prime Minister Internship Scheme 1 Crore Youth 2024.
What is the main objective of launching the Prime Minister Internship Scheme 1 Crore Youth 2024?
The main objective of launching the Prime Minister Internship Scheme is to help the unemployed youth of India by providing them with internships.