To qualify for this scheme, applicants must be between 21 and 24 years old, have completed Grades 10 and 12, and hold an undergraduate degree, ITI diploma, or other technical qualifications.
New Delhi: The government on Monday said that the Prime Minister Internship Scheme or PMIS has been targeted at providing 1.25 lakh internship opportunities to the youth during the financial year 2024-25. “The scheme is aimed at getting youth from tier II and III cities, and help them to understand the skills that are required by the industry as well as the job availability,” Union finance minister Nirmala Sitharaman said, while launching a dedicated mobile application for the pilot project.
The PMIS, introduced in the Union Budget for 2024-25, witnessed 28,141 candidates who accepted internship offers in its initial round, while in the second round, launched in January, aims to offer over 100,000 internship opportunities across more than 300 companies, targeting 1.25 lakh internships for the 2024-25 fiscal year. “There is a shortage of people in terms of industry expectations and requirements and the scheme is aimed at bridging that gap,” the finance minister said.
“It was absolutely visionary of PM Modi to put the finger on the point that today, our youth are going through various different courses as per their aptitude and our industry is also going through a lot of change. They are bringing in artificial intelligence, robotics, and various other things. So, as much as you train your youth, there still is a shortage of industry expectation in the skills that they expect which they want to find in every new recruit,” she said.
Over the next five years, the initiative for the youth plans to partner with the top 500 companies and provide internships to 10 million young professionals. As per the scheme, interns will receive a monthly stipend of Rs 5,000 for 12 months and a one-time grant of Rs 6,000 for incidental expenses, and insurance coverage through the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
For the scheme, Sitharaman also emphasised that there is no compulsion on industry and no interference. “The scheme is for a national cause. Indian industry should participate in the larger interest. You need to open the window,” she said, urging more companies to be part of it.
In the first round of the scheme’s pilot project, more than 1.27 lakh internship opportunities were provided by the companies and the second round of the project started in January this year under which over 1.18 lakh internship opportunities have been posted by around 327 companies. The deadline for applications in the second round is March 31.
To qualify for this scheme, applicants must be between 21 and 24 years old, have completed Grades 10 and 12, and hold an undergraduate degree, ITI diploma, or other technical qualifications.
