The Central Government has recently launched the pilot phase of the Prime Minister’s Internship Scheme, In India, marking a significant step towards addressing youth unemployment in India. Officially unveiled on Thursday, the initiative aims to create 125,000 internship opportunities in the fiscal year 2024-25.
On Thursday, the Central Government officially launched the pilot phase of the Prime Minister’s Internship Scheme for india, with the ambitious goal of providing 125,000 internship opportunities during the fiscal year 2024-25. This initiative is a strategic response to the pressing issue of youth unemployment in the country, aiming to empower young individuals with practical experience that will enhance their employability in an increasingly competitive job market.
The PM Internship Scheme is designed to reach a substantial 1 crore (10 million) young people over the next five years, creating pathways for them to gain essential workplace skills. By offering these internships, the government aims to equip participants with real-world experience, thereby bridging the gap between academic education and practical application. This experience is critical, as it not only enhances the skill set of the interns but also makes them more attractive candidates to potential employers upon graduation.
Eligible candidates interested in participating in the PM Internship Scheme are encouraged to apply online through the official portal. This streamlined application process aims to ensure accessibility for all qualified youth, allowing them to take advantage of the opportunities presented by the program. As the initiative progresses, it is expected to play a pivotal role in reducing unemployment rates and fostering a skilled workforce that is prepared to meet the demands of various industries across the nation.
To qualify for the PM Internship Scheme, candidates must meet specific eligibility criteria. Applicants should be within the age range of 21 to 24 years and must not be engaged in full-time employment at the time of application. Additionally, individuals from families with existing government employees are excluded from participating in the program. Notably, graduates from prestigious institutions such as IITs and IIMs, as well as those holding professional qualifications like CA (Chartered Accountant) or CMA (Cost and Management Accountant), are also ineligible. However, the scheme aims to be inclusive by welcoming youth who have undergone training at Industrial Training Institutes (ITIs) and Kaushal Kendras (skill centers), thereby offering opportunities to a broader segment of the youth population.
Participants selected for the program will receive a monthly stipend of ₹4,500 from the government. Additionally, companies participating in the scheme are expected to contribute an extra ₹500 as part of their corporate social responsibility (CSR) initiatives, bringing the total monthly stipend to ₹5,000. This financial support not only aids the interns during their training period but also emphasizes the collaborative effort between the government and the corporate sector in enhancing youth employability.
In addition to the monthly stipend, participants in the PM Internship Scheme, India will receive a one-time financial assistance of ₹6,000. This amount is designed to help cover incidental expenses that may arise during their internship period, ensuring that interns have some financial cushion as they gain valuable work experience. This support acknowledges the potential costs associated with travel, meals, and other necessary expenditures while engaging in the internship program.
Moreover, the government prioritizes the safety and security of its interns by providing insurance coverage through the PM Jeevan Jyoti Bima Yojana and the PM Suraksha Bima Yojana. These programs offer life and accidental insurance benefits, respectively, providing participants with added peace of mind during their internships. Importantly, the government will cover the premium costs for these insurance plans, making it a comprehensive support system for the interns. This initiative not only enhances the overall experience for participants but also reflects the government’s commitment to safeguarding the welfare of youth as they navigate their early careers.
To register for the Prime Minister’s Internship Scheme, eligible candidates must follow a straightforward process on the official portal. Here’s how to register:
Visit the Portal: Go to www.pminternship.mca.gov.in.
Create a Profile: Candidates will need to register themselves by providing the required information. Based on this information, the portal will generate a resume for the applicant.
Explore Preferences: A browsing facility will be available, allowing candidates to explore various options based on their preferences.
Select Criteria: Candidates can specify their preferred sectors, functional roles, locations (state and district), and other relevant criteria.
Apply for Internships: Candidates may apply for up to five (5) internship opportunities that align with their interests and qualifications.
This user-friendly registration process is designed to ensure that candidates can easily navigate their options and find internships that suit their aspirations and skills.
The shortlisting process for the PM Internship Scheme, India is designed to be systematic and inclusive, ensuring that candidates are selected fairly based on their preferences and the specific requirements set by participating companies. Here’s how candidates will be shortlisted:
Preference-Based Selection: Shortlisting will consider candidates’ chosen sectors, functional roles, and locations.
Equity in Representation: The process will prioritize criteria aimed at supporting candidates with lower employability rates, ensuring broader representation across the applicant base.
Inclusive Tools: The portal will employ tools that enhance representation from various demographic segments, including Scheduled Castes (SC), Scheduled Tribes (ST), Other Backward Classes (OBC), and Persons with Disabilities (PWD).
Candidate Pool: Depending on the number of internship offers available, approximately twice to thrice the number of candidates will be shortlisted, along with their resumes, to be forwarded to companies for selection.
Company Selection: Companies will review the shortlisted candidates and extend internship offers based on their own selection criteria and processes.
Acceptance through Portal: Once a company sends an offer to a candidate, the candidate can easily convey their acceptance through the portal.
This structured approach not only enhances the efficiency of the selection process but also fosters inclusivity, allowing diverse candidates to participate in valuable internship opportunities.
Corporate Coordination in the PM Internship Scheme
The success of the Prime Minister’s Internship Scheme heavily relies on effective corporate coordination, with participating companies selected based on their Corporate Social Responsibility (CSR) spending over the last three years. Although participation in the program is voluntary, additional companies, banks, and financial institutions are encouraged to join the initiative upon receiving approval from the Ministry of Corporate Affairs (MCA). This collaborative approach is vital for expanding the reach and impact of the internship program.
To further enhance opportunities, firms that are unable to provide in-house internships can collaborate with their suppliers, customers, or other partners within their value chain. This flexibility not only broadens the scope of internship offerings but also strengthens the ecosystem of support for young individuals entering the workforce.
Internships are structured to last for 12 months, with a focus on practical job skills, ensuring that participants engage in hands-on work experience for at least half of the program duration. This real-world exposure is critical for equipping interns with the necessary skills to thrive in their future careers.
The financial aspect of the scheme also highlights corporate coordination, as most of the stipend provided to interns will come from the government, with participating companies contributing a portion through their CSR funds. This partnership not only underscores the shared responsibility of nurturing the next generation of talent but also reinforces the importance of collaboration between the government and the private sector in addressing youth unemployment.
The effective corporate coordination within the Prime Minister’s Internship Scheme sets a robust framework for nurturing young talent. By leveraging the strengths of participating companies and ensuring a comprehensive internship experience, this initiative promises to create meaningful opportunities that prepare youth for the demands of the job market while fostering a culture of corporate responsibility.
For more in-depth information on the Prime Minister’s Internship Scheme and its various components, we refer to the insightful coverage provided by ET Online This source offers valuable details regarding the initiative, including the eligibility criteria, application process, and the roles of participating companies. By following the reference, readers can access a comprehensive overview of the scheme, ensuring they stay updated on how this program aims to empower youth and enhance employability through practical internships.
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