10 things to know about the new PM internship scheme

CHENNAI: The Central government on Thursday launched an internship programme on a pilot basis that will provide financial assistance of Rs 66,000 to those between 21-24 years of age, aiming to offer 1.25 lakh internship opportunities for candidates during the fiscal year 2024-25.

The pilot project is estimated to cost around Rs 800 crore and will begin on December 2.

Here is all you need to know about the PM internship scheme:

1. Candidates can register with minimum data in the portal from October 12 to 25. They will be shortlisted on October 26.

2. Youth aged between 21 and 24 years will be eligible for the scheme. They must have passed either High School or Higher Secondary School, or hold a Polytechnic diploma, or have a graduate degree.

3. Candidates should not be engaged in full-time employment; those with family annual income of more than Rs 8 lakh in 2023-24 will be excluded.

4. Applicants can register themselves on 'www.pm internship.mca.gov.in', developed by the corporate affairs ministry.

5. Up to three internship offers will be made to a selected candidate.

6. Selected participants will receive a stipend of Rs 5,000 per month; out of the total amount, Rs 4,500 will be disbursed by the government and Rs 500 will be paid by the concerned company from its CSR funds.

7. In addition to the stipend, there will be a one-time grant of Rs 6,000 for incidental expenses.

8. The top 500 companies for the internship scheme have been identified on the basis of their average CSR (Corporate Social Responsibility) expenditure in the last three years.

9. As many as 1,077 internship offers have been made by three companies -- Alembic, Mahindra & Mahindra, and Max Life Insurance.

10. The internship will last for a period of 12 months.