Prime Minister’s Internship Scheme:
Data from the Controller General of Accounts show severe underutilisation of funds under the Prime Minister’s Internship Scheme (PMIS), pointing to weaknesses in the scheme’s design, demand, and implementation barely a year after its launch.
- The PMIS, under the Ministry of Corporate Affairs, announced in the Union Budget 2024–25, aims to provide one crore internship opportunities over five years in top 500 companies to enhance the employability of youth aged 21–24 years.
- The scheme offers a Minimum Stipend of Rs 5,000 per month, a One-Time Grant of Rs 6,000, and Insurance Coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, along with exposure to diverse sectors and leading companies.
- The internship lasts 12 months, with at least half of the period spent in real workplace or job-based experience, not classroom training.
- Candidates must be 21–24 years old, possess Minimum Class 10 Qualification or above (ITI, Polytechnic, Graduation etc.), and should not be engaged in Full-Time Employment or Regular Education (distance or online education allowed).
- Graduates from IITs, IIMs, NLUs, IISERs, holders of professional or postgraduate degrees (CA, CMA, CS, MBA, MBBS, etc.), candidates trained under National Apprenticeship Promotion Scheme (NAPS)/ National Apprenticeship Training Scheme (NATS).
- Income of any family member exceeds Rs 8 lakh for FY 2023-24 , families with regular government employees, and applicants already in any government skill, apprenticeship, or internship programme are ineligible.
- PMIS aims to enhance employability by providing structured, real-world industry exposure to youth.
- Bridge the education–industry gap through hands-on training in top companies.
- Expand access to internships beyond elite institutions and urban centres.
- Support youth from low-income households with financial assistance during internships.
- Build a skilled workforce aligned with industry needs and national economic growth.
