Around 6.5 lakh applications come in for PM’s Internship Scheme pilot project

Around 6.5 lakh applications come in for PM’s Internship Scheme pilot project

Sub: Schemes

Sec: Economy

Context:

• The PM Internship Scheme pilot project received 6.5 lakh applications for 1.27 lakh opportunities offered by 280 firms.
• Applicants could apply for up to five internships, and the selection process will now begin.

PM Internship Scheme:

• The scheme aims to provide on-the-job training to one crore individuals over five years.
• It is designed to enhance employability among unemployed youth by offering practical experience in top companies.
• Interns will receive a ₹5,000 monthly stipend, combining ₹500 from companies’ CSR funds and ₹4,500 through direct government transfer. Additionally, a ₹6,000 one-time grant will cover incidental expenses.

Eligibility Criteria:

• Applicants must be unemployed youth between 21 and 24 years of age.
• Annual family income must not exceed ₹8 lakh.
• Only individuals not enrolled in full-time academic programs are eligible.

Internship opportunities:

• 280 major companies, including Tata Steel, ITC Limited, ICICI Bank, and the Mahindra Group, have participated in the pilot phase.
• Internships are distributed across States and Union Territories, with Maharashtra (14,694) and Tamil Nadu (13,263) offering the highest numbers.
• The lowest number of internships was in Lakshadweep, with only two offers.