PM Internship Scheme

The PM Internship Scheme, a brainchild of the Indian Government, is an opportunity to fill the lacuna between education and employment in the youths of the nation. To this extent, the Union Budget 2024-25 announces it, empowering the youth to take up hands-on experience with skill development in various fields. Such a policy has the potential to change the face of job readiness among graduates and young professionals within a country that still dreads having rampant unemployment among youth.

This paper looks closely into the PM Internship Scheme, covering its objectives, structure, implementation strategy, expected outcomes, importance in the economic landscape of India, and potential challenges ahead.

Table of Contents

Objectives of the PM Internship Scheme

The PM Internship Scheme is created with several clear objectives:

Increasing Employability: The main aim of the program is increasing employability of the youth. Internship opportunities which give work experience with the scheme as part of an internship program is provided. It should equip the interns with skills appreciated in the job market and highly valued by employers. In a competitive job market, more than theoretical knowledge might be required to secure a job.
Building Skills: This program will provide training on the very essential skills required in the industry. The interns’ communication, teamwork, and problem-solving abilities, along with their technical skills in their specific fields of industry, will be built up. A holistic approach ensures participants become a well-rounded candidate for any future employment.
Corporate Engagement: The PM Internship Scheme supports collaboration between education institutions and the corporate world by linking up with such leading companies cutting across different sectors. This collaboration ensures that the curricula developed in educational institutions are relevant to industry needs, hence making education more relevant.
Youth Support: Under the scheme, the government would provide financial support to the youth up to one crore (10 million) during the internship period. This was particularly very much for those who came from the economically weaker sections who would otherwise be deprived of the provision to take an internship without pay.

Scheme Framework

The PM Internship Scheme is structured to provide a robust framework that works in favor of the interns as well as the companies availing the scheme.

Financial Support

The internship period shall be provided with a stipend of ₹ 5,000 per month. In addition, for travel and living arrangements at the internship site, a one-time assistance amount of ₹ 6,000 is given.

It, therefore, not only incentivizes students to participate but also offers some much-needed relief from financial burden on young minds.

Corporate Responsibilities

The participant companies are expected to undertake the following responsibilities:

Structured Training and Mentorship: These companies should provide interns with structured training courses, including mentorship. A mentor is identified as someone who has experience in the position; they will lead and guide the intern through the role.
Sponsorship via CSR: The companies can utilize Corporate Social Responsibility funds for their internships. In this way, the companies are compelled to invest in community building, but also corporate identity is strengthened.

Duration and Scope

The period of internships offered under the scheme will vary but should last between 3 to 6 months. The programs will be available in various industries, including technology, manufacturing, healthcare, finance, and many others. In this manner, the scheme will reach out to the youth with various interests and skills.

Implementation Plan

Implementing the PM Internship Scheme robustly and effectively would be a tonic for success. The following components outline how the scheme will be executed:

Selection Process

The selection process of interns shall be systematic and transparent.

It shall be an online application through the government by setting up a dedicated online portal.
Screening by the Company: The companies participating will screen applications based on a given criterion and interview and assess the chosen candidates as appropriate.

Training and Mentoring

Interns will be encouraged to go through structured learning programs, which will involve on-the-job training. They will, therefore, get an opportunity to engage in real and pragmatic work areas where they are stationed. Mentorship programs: This involves giving each intern a mentor who guides them through the period of their internship, offering them knowledge, services, and support.

Monitoring and Evaluation

The scheme will have stringent mechanisms to ensure accountability and effectiveness:

Feedback Mechanisms: Interns and companies will be periodically surveyed to ascertain the satisfaction level and obtain feedback on improvements that should be made for future editions of the program.
Measuring Parameters: The government will establish a set of measuring parameters to arrive at how much expertise has been acquired and the placements that have come into being after the internship. This will help in the process of further refinement of the program over time.

The PM Internship Scheme 2024 is an initiative by the Government of India, which provides young people with worthy internship opportunities that can develop their employability and skill development. This guide contains all information about the scheme, including the objectives, eligibility criteria, application process, benefits, and FAQs.

Feature	Details
Target Beneficiaries	The beneficiaries include young students who have passed 10th and 12th or possess other qualifications, like ITI, Polytechnic, BA, and BCom.
Internship Availability	More than 1 lakh internships for the academic year 2024-25
Length	12 months (1 year)
Stipend	₹ 5,000 per month (₹ 4,500 from govt + ₹ 500 from company CSR)
Additional Benefits	₹ 6,000 one time payment + Insurance cover under PM Jeevan Jyoti Bima Yojana & PM Suraksha Bima Yojana
Eligibility Age	21 to 24 years

Eligibility Criteria

Candidates can get entry under the PM Internship Scheme by fulfilling certain eligibility criteria as stated below:

1. Educational Qualification:

Passed 10th or 12th standard.
Passed ITI and Polytechnic diploma.
Graduate in BA, B.Sc., B.Com., BCA, BBA, B.Pharma, etc.

2. Age Limit:

The applicants should be in the age group of 21 to 24 years at the time of the application round.

3. Not Eligible

A postgraduate applicant or student of a prime institute is not eligible, which includes IITs, IIMs, National Law Universities, etc.
They are not eligible either, whose parents’ annual gross income is more than ₹8 lakh.

Read detailed information at: pm internship scheme eligibility

Application Process

It is very easy to apply for the PM Internship Scheme, and you may do it by the portal given below online too. Here is how you do it step by step apply.

Step 1

Go to the Official Website at [pminternship.mca.gov.in](http://pminternship.mca.gov.in).

Step 2

Register
Click on “Register.”
Create a new account using your email ID and phone number.

Step 3

Complete Your Profile
Fill in personal details and educational qualifications.
Upload requirements such as ID proof and certificates as necessary

Step 4

Select Your Internship:

Go through the posted internships and select jobs that best fit your profile and interest.

Step 5

Apply:
Review all entered details
Click on the “Submit” button to complete your application

Step 6

Application Review:
After your application is submitted, participating organisations will screen it.
E-mail will be sent to the selected individuals with instructions for further action.

Important Dates

Registration Start Date: October 12, 2024
Last Date for Registration: October 25, 2024
Starting Date of Internship: December 2, 2024

Benefits of joining the PM Internship Programme?

Benefits for the participants who will join the PM Internship Scheme:

Financial Support: Interns will be provided with ₹5,000 per month as a stipend during their internship-₹4,500 from the government and ₹500 from the company’s CSR fund.
The allowance at the Starting: ₹6,000 one-time grant will be provided upon joining the internship.
Working Experience: Interns get hands-on experience with top companies in diverse industries of working skills, thereby increasing their chances of employment.
Certificate of Completion: The companies will also provide certificates issued after the completion of the internship without failure.
Insurance Coverage: They will also get insurance coverage under PM Jeevan Jyoti Bima Yojana & PM Suraksha Bima Yojana for extra security.

Read more information at: how to register in pm internship scheme

Expected Outcome

The PM Internship Scheme shall be fruitful to yield a few excellent outputs as listed below:

More Job Opportunities: With improved skills and direct experience, more youth shall become job-ready. This increase in employability could lead to a higher level of job placements for those graduates.
Economic Growth: It is there to the greater extent that has made sectors productive. More youths entering the job market adequately equipped with relevant skills, the overall economic growth is expected to pick pace.
Women Empowerment: There are special provisions in the scheme to encourage the participation of women in internship programs. The idea is to bridge the gender gap in employment opportunities through differential recourse to address the disparities.
Industry-Academia Linkages: The industry-academia linkage is to be strengthened through an improved undertaking of their respective roles in institutionalising the scheme.

The set of interplays and dialogues this scheme has fostered between the learning institutions and the corporate entities will lead to improvements in curricula with upgraded inputs that are better structured to face industrial demands.

Relevance in India’s Economic Environment

Tackling Unemployment Issues:

This is precisely what remains a matter of grave concern in India. A million graduates continue to swarm into the job market every year with a lack of competent skills and experience. By providing prospective individuals with actual work experience while they’re still in school or immediately after graduation, PM’s Internship Scheme directly tackles the challenge.

Alignment with National Initiatives

This scheme is ideally in line with the other national initiatives for developing skills and employment generations:

Skill India Mission: This was to be launched in the year 2015 with the aim of skilling over 400 million people by 2022. Therefore, PM Internship Scheme can be seen as an augmentation to this mission by providing working skills besides skill training.
Make in India: An integrated thrust to manufacturing and innovation also creates additional demand for skills in a host of sectors. Internships can be used to bridge the gaps by preparing the youth for careers in such emerging industries.

To Promote CSR

CSR encourages companies to invest in internships as a social responsibility activity towards developing society. Of course, the profit will benefit an individual who would have done nothing otherwise, but this enhances corporate reputation and engagement within local communities.

Looking Ahead to Challenges

The PM Internship Scheme is ambitious, and there are a number of challenges in the process of its implementation:

Participation by the Companies: It is a challenge to ensure adequate organisations are willing to participate and provide meaningful internships. Some might shy away based on resource limitations or fear of needing more capabilities to mentor.
Quality Assurance: There is a need to ensure that internship standards are high in different sectors. This will be essential in ensuring the interns experience something valuable. The government should have a good framework for what is considered a quality internship experience.
Monitoring Effectiveness: It would be essential to develop a robust monitoring system for outcomes and implement necessary changes for long-term success. Outcome tracking could become problematic without the proper tracking mechanisms, and it could be challenging to determine if the scheme is being achieved or not.
Awareness and Accessibility: An added point is that, for a maximum participation rate, there would have to be created an awareness of the scheme among the would-be interns. Targeted outreach efforts are further required towards access for the marginalized groups, which includes persons from districts other than the metropolitan and economically weaker sections of society.

One crucial step in confronting India’s youth unemployment, coupled with developing skills through practical experience, is the PM Internship Scheme. This scheme, by collaborating with the top companies and providing financial support to the interns, will help create an even more employable workforce that can be geared towards meeting the dynamic requirements of the job market in India.

So long as India faces economic challenges brought about by the shift of employment globally with automation and digitalisation, programs like these are essential to continuing the growth process and ensuring young people have opportunities to shape their futures forward.

In a nutshell, while it is far from smooth sailing—ranging from ensuring participation to quality maintenance—the prospects on offer are considerable. This scheme happens to be one of the more significant pieces of any Indian approach to economic development and social empowerment because it seeks to enhance not just individual livelihoods but contribute meaningfully to the national growth objectives as well.

A dynamic set of programs would always require continual review and adaptation to better suit the needs of participants and stakeholders. Such an approach may shape the PM Internship Scheme not only to change lives but also to influence India’s economic landscape for centuries to come.

Frequently Asked Questions (FAQs)

Q1: Is there an application fee for the PM Internship Scheme?

No, there is no application fee; the process is all free of cost.

Read more about application procedure at: how to apply for pm internship scheme

Q2: What is the minimum age limit for joining this scheme?

Applicants must be between 21 and 24 years of age.

Q3: Can postgraduates apply for this scheme?

No, postgraduates and premier institutions students are not eligible (IITs, IIMs).

Q4: Will I get a certificate after completing this internship?

Yes, the certificate will be received from their respective company. Each intern will get it once they have done the internship.

Q5: Do I get to choose the company where I’ll do my internship?

Yes, an applicant will be afforded the ability to select his choice of participating company, subject to availability and eligibility to the internship as offered.

Q6: What if I drop out of this internship?

If an intern drops without completing his stipulated internship term without justifiable reasons or proper approvals from their mentor or supervisor of the company, he would not be availed of any stipend or benefits.