The Finance Minister of India announced the Prime Minister Internship Scheme 1 Crore Youth 2024. During the representation of the education budget, the Finance Minister of India Mrs. Nirmala Sitharaman announce the launch of the Prime Minister Internship Scheme 1 Crore Youth 2024. Under this scheme, the government of India will provide internships to all students who have completed their education. The Government of India will also provide financial assistance and a monthly stipend to all selected applicants under the scheme. The financial assistance under the scheme will be transferred directly to the selected applicant’s bank account.
Internship Scheme for 1 Crore Youth Announced
To provide employment opportunities to the unemployed youth of India the Government of India introduced the Prime Minister Internship Scheme. As per the announcement by the finance minister of India a total of 1 crore youth will avail the benefits under this scheme. By providing internships, the Government of India will provide essential experience to the country’s youth, which will help them get a job easily. All applicants who clear the eligibility criteria must visit the official website and fill out the application form online to avail of the Prime Minister Internship Scheme 1 Crore Youth 2024 benefits.
PM Internship Scheme Official Launch on 3rd Oct
The Prime Minister Internship Scheme, aimed at enhancing youth employability and skills, will be launched on October 3, 2024. This one-year program targets young individuals aged 21-24 and offers internships in India’s top 500 companies. The initiative, part of the Prime Minister’s Package for Employment and Skilling, was first announced in the Union Budget. Candidates can apply through an internship portal that will also launch on the same day. The eligibility criteria state that applicants must not be in full-time jobs and should come from families without government employees.
pminternship mca.gov in Registration
Those who studied at prestigious institutions like IITs or IIMs are excluded, but youth from Industrial Training Institutes (ITIs) and skill centers can participate. Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 from companies through their corporate social responsibility (CSR) funds. The scheme will be implemented in two phases, training 10 million youth over five years.
The objective of the Youth Internship Scheme
The main objective of the Youth Internship Scheme is to help the youth of India gain some experience in the corporate world. With the help of this scheme, the youth will get employment opportunities. According to the Government of India, the selected youth under the scheme will receive a monthly stipend of up to INR 5000. Not only monthly stipend but the applicants will also receive a one-time financial assistance of INR 6000. The selected youth will get a chance to do their internship in the top 500 companies in India. With the help of this scheme, the unemployed youth did not have to depend on anyone for their day-to-day expenses anymore.
Also Read: PM Internship Scheme Opportunity
Helpful Summary of 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/login/# |
Eligibility Criteria
Here is the Prime Minister Internship Scheme Eligibility:
- Applicant should be a permanent resident of India.
- Applicants must be between 21 and 24 years old.
- Applicants should not be engaged in full-time employment.
- Candidates must have completed their Secondary School Certificate (SSC) or its equivalent, Higher Secondary Certificate (HSC) or its equivalent, or hold a certificate from an Industrial Training Institute (ITI), a Polytechnic diploma, or a graduation degree like BA, B.Sc, B.Com, BCA, BBA, or B.Pharma.
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).
Also Read: Digital India Internship Scheme
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.
Benefits of the Prime Minister Internship Scheme
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.
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.
- The monthly stipend of up to INR 5000 will be given to the selected applicants under the Prime Minister Internship Scheme 1 Crore Youth.
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 will launch its dedicated portal on October 3, 2024, allowing youth to apply for internships with top companies. Participating companies will upload available positions, and applications can begin on October 12, 2024. The scheme is designed to boost youth employability by offering one-year internships in India’s top 500 companies. Youth can apply through the internship portal, also launching on the same day. Eligibility includes being unemployed, coming from families without government employees, and being excluded if they attended respected institutions like IITs or IIMs.
However, youth from Industrial Training Institutes (ITIs) and skill centers are encouraged to apply. Interns will receive a monthly stipend of Rs. 4,500 from the government, with an additional Rs. 500 from companies’ CSR funds. This scheme will be implemented in two phases, aiming to train 10 million youth over five years.
Also Read: Vidyalakshmi Scheme
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
Important Downloads
FAQs
What is the Prime Minister Internship Scheme?
It is a government initiative aimed at enhancing the employability and skills of youth through internships in top companies.
Who is eligible to apply for the scheme?
Youth aged 21 to 24 years, not engaged in full-time employment or education, and meeting specific criteria outlined in the eligibility guidelines.
What financial assistance will interns receive?
Interns will receive Rs. 5,000 per month for 12 months, with Rs. 4,500 funded by the government and Rs. 500 from the company based on attendance and conduct.
How will the application process work?
Candidates must register on the online portal, create a resume, and apply for up to five internship opportunities based on their preferences.
What is the role of the online portal?
The portal will facilitate the entire internship life-cycle, including posting opportunities, application processing, and managing financial assistance.
Are there any operational guidelines available?
Yes, detailed operational guidelines for companies and youth participation will be provided on the portal.