PRIME MINISTER INTERNSHIP SCHEME

Context:

The Union government announced the Prime Minister Internship Scheme to provide internship opportunities for young people across India.

Details

The Prime Minister Internship Scheme is a new program launched by the Indian governmentto help young people gain work experience.

It wasannounced by the Union Finance Ministerduring the Budget speech on July 23 and officially started on October 3.

What is the PM Internship Scheme?

The scheme aims toprovide internship opportunities to one crore youth in the top 500 companies over the next five years.This will help many young people to get a chance to work in big companies and learn about different jobs and industries.

Key Details

1. Internship Opportunities: The scheme will offer internships in various fields, allowing students to gain practical experience and skills.
2. Top Companies: The internships will be provided by the top 500 companies in India, which means students will get to work with some of the best businesses in the country.
3. Duration: Each internship will last for 12 months, giving students enough time to learn and contribute meaningfully.
4. Stipend: Interns will receive a monthly stipend of ₹5,000. This includes ₹4,500 from the government and ₹500 from the participating companies.
5. Insurance Coverage:Interns will also be provided with insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.

Eligibility

To apply,candidates must be between 21 and 24 years oldand have completed high school, an ITI diploma, or a graduate degree like BA, BSc, BCom, BCA, or BBA.

Not Eligible

1. Candidates must not be full-time employed or engaged in full-time education(candidates enrolled in online or distance learning programmes are eligible).
2. Graduates from specific institutions like IITs, IIMs, National Law Universities,IISER, NIDs, or IIITs are not eligible
3. Candidates withadvanced qualifications such as CA, CMA, CS, MBBS, BDS, MBA, PhD, or any master's degree or higher qualification are not eligible.
4. Candidatesundergoing any skill, apprenticeship, internship, or training programme under a Central or State Government scheme are not eligible.
5. Candidateswho completed an apprenticeship under the National Apprenticeship Training Scheme (NATS)or National Apprenticeship Promotion Scheme (NAPS) are not eligible.
6. Candidates whosefamily members income exceed Rs 8 lakh for FY 2023-24 are not eligible.
7. Candidates will not be eligible ifany member of the family (self, parents, or spouse) is a permanent/regular government employee (excluding contractual employees). “Government” includes Central and State Governments, Union Territory administrations, Central and State Public Sector Undertakings (PSUs), statutory organizations, and local bodies.

Benefits

1. Practical Experience: Interns will gain working experience in real-world business environments.
2. Financial Support: The stipend will support Interns to cover their basic expenses during the internship.
3. Career Opportunities: This real-life experience will increase their employability and open several future job opportunities.