The Prime Minister’s internship scheme, announced by Union Finance Minister Nirmala Sitharaman during her Budget speech on July 23, is set to go live on October 3. Aspirants can start applying from October 12. The central government has joined hands with the Confederation of Indian Industry (CII) for the scheme.
The portal is believed to shortlist double the number of candidates for each internship position based on profiles, preferences, and eligibility. From this, companies will select candidates and issue offer letters.
Under this scheme, the candidates will get an opportunity to work in the top 500 companies of India, which offer internships as part of their CSR (corporate social responsibility) spending.
The interns will be entitled to a monthly stipend of ₹5000 and one-time financial assistance of ₹6,000.
However, to get the internship, applicants must meet these conditions.
Eligibility criteria:
A. Applicant must be a permanent resident of India aged between 21 and 24. This targets the youth who are recent graduates and are at the beginning of their careers.
B. The applicant must be a youth
C. Importantly, s/he must be unemployed and not engaged in full-time employment.
The scheme was announced during the Budget announcement on July 23 this year. The documents required to be able to apply for this internship include aadhaar card, email ID, mobile number, address proof, PAN card and ration card.
The internship aims to provide one crore internships in the next five years. The internships are designed so that at least 50 per cent of the training entails practical work.
The aim is to enable interns to apply theoretical knowledge to actual business environments, gaining hands-on experience that is important for their professional development.
Who are excluded:
A. Graduates of top institutes are excluded, such as the ones who studied at top institutes such as IIT or IIM.
B. Those who are 25 and above.
C. Those who are in full-time employment.