PM Internship Scheme: Check Eligibility, Benefits, Qualifications, Stipend, Application Process, and More

The Ministry of Corporate Affairs (MCA) has commenced the registration process for the PM Internship Scheme 2024, starting on October 12, 2024, and inviting one crore young individuals to apply. Candidates can register through the official website, pminternship.mca.gov.in, for over 80,000 positions available in the top 500 companies nationwide. Announced on October 3, 2024, this scheme provides one year of practical experience and diverse internship opportunities for young professionals over the next five years. While registrations are open, the deadline for applications has yet to be announced.  

What is PM Internship Scheme?

Announced during the Union Budget 2024-25, the Prime Minister’s Internship Scheme is an ambitious project designed to provide youth with practical, real-world exposure to diverse business environments. The scheme began as a pilot project for the 2024-25 financial year, targeting 1.25 lakh internships in various industries such as energy, hospitality, automotive, banking, and more. Through this initiative, the Government of India seeks to prepare young people for the workforce by giving them access to high-quality internship programs in top-tier organizations. By focusing solely on internships, this initiative stands apart from existing skill development and apprenticeship programs.

The goal is to create an employment-ready workforce and contribute to the country's overall economic growth and development by empowering the next generation of professionals.

Eligibility Criteria

The PM’s Internship Scheme targets young individuals who are eager to enter the job market. To be eligible:

• Age: Applicants must be between 21 and 24 years old, and they must be Indian nationals not engaged in full-time employment or education.

• Educational Background: Eligible candidates include those who have completed high school, higher secondary education, ITI courses, diplomas from polytechnic institutes, or bachelor’s degrees such as BA, B.Sc, B.Com, BCA, BBA, and B.Pharma.

• Candidates enrolled in online or distance learning programs can also apply.

The scheme offers a year-long internship program, and interested applicants can submit their applications through the official portal starting from October 12, 2024. 

Who Can't Apply?

There are several groups who are ineligible for the PM Internship Scheme:

• Graduates from premier institutions like IITs, IIMs, National Law Universities, NIDs, and IISERs.

• Individuals with qualifications such as MBBS, CA, CMA, CS, MBA, or higher degrees.

• Candidates who are already part of government-funded skill development or internship programs, such as NATS or NAPS.

• Individuals whose family income exceeds Rs. 8 lakh for the financial year 2023-24.

• Family members of permanent or regular government employees.

Stipend and Financial Support

Applicants of the PM Internship Scheme will receive a stipend of Rs. 5,000 per month, which is split as follows:

• Rs 500 contributed by partner companies, based on attendance and performance.

• Rs 4,500 directly transferred by the government to the intern’s Aadhaar-linked bank account.

Additionally, interns will receive a one-time joining grant of Rs. 6,000, which will also be deposited via Direct Benefit Transfer (DBT).

Insurance Coverage

Interns under the PM Internship Scheme will be provided with comprehensive insurance coverage under two key government insurance schemes:

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

• Pradhan Mantri Suraksha Bima Yojana(PMSBY).

The government will cover the premium costs, and partner companies may offer additional accidental insurance coverage, ensuring the interns' financial and personal security during the program.

Benefits of the PM Internship Scheme

The PM Internship Scheme offers several significant benefits to participants, including:

1. Practical Work Experience: Interns gain exposure to real-world business environments, enhancing their understanding of industry dynamics.

2. Diverse Internship Opportunities: The scheme spans 24 sectors, providing internships in industries like banking, energy, travel, hospitality, and automotive.

3. Financial Support: The government offers a monthly stipend and a joining grant to ease the financial burden on interns.

4. Networking Opportunities: Interns can build connections with industry professionals and experts.

5. Skill Development: Interns acquire industry-specific skills that boost their employability.

PM Internship Portal: Streamlined Application Process

The entire application process for the PM Internship Scheme is managed through a centralized online portal, making it easy for candidates to apply. Here’s how candidates can register:

1. Visit the official portal at pminternship.mca.gov.in.

2. Complete the registration form and upload necessary documents.

3. Submit the form and generate a resume.

4. Apply for up to five internships based on preferences like location, sector, and educational qualifications.

After a candidate completes the registration, the portal helps with the shortlisting process. The applicants' preferences are compared with company requirements, and the portal gives priority to diversity and social inclusion by promoting candidates from marginalized communities such as SC, ST, OBC, and Persons with Disabilities.

The Prime Minister's Internship Scheme is a crucial initiative aimed at bridging the gap between education and employment for young professionals. The program provides meaningful internships in top companies across various sectors, offering a unique opportunity to develop essential skills and establish a foothold in the competitive job market. With structured financial support and comprehensive insurance coverage, this initiative not only provides a valuable learning opportunity but also represents a step towards economic empowerment for India's youth.