PM Internship Scheme 2024: Transforming Youth Careers with Industry Exposure

The PM Internship Scheme (PMIS) 2024 has officially commenced, offering internships to young talent from 656 districts in leading companies like IOCL, ONGC, Maruti Suzuki, and Titan. Announced in the Union Budget 2024-25, this ambitious program aims to bridge the gap between academic learning and industry experience by providing 1 crore internships over five years. The scheme’s pilot phase targets 1.25 lakh youth, equipping them with essential skills and real-world exposure.

The PM Internship Scheme (PMIS) began operations with interns from 656 districts starting their roles in companies like IOCL, ONGC, Vedanta, Maruti Suzuki, Titan, and NTPC.

About the scheme:

• It was announced in Union Budget 2024-25 with an aim to provide 1 crore internships in top companies over a five-year period, with the pilot project targeting 1.25 lakh youth in FY 2024-25.

• To reduce the gap between academic learning and real-world exposure to the youth.

• Under this scheme, applicants will be given a stipend of Rs. 5000 per month for a year, Rs. 4500 from the government via DBT, and Rs. 500 from the company as a part of their CSR.

• A one-time grant of ₹6,000 will be provided upon enrollment, along with insurance coverage under the PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.

• 6.5 lakh applications were received for 1.27 lakh opportunities offered by 280 companies.

Eligibility:

• Age: between 21 and 24 years of age

• Must not be in full-time employment

• Education: high school, ITI, diploma, graduate from recognized university

Exclusion:

• Graduate from premium institutions like IIT, IIM, and  NLU.

• Family income must not be more than 8 lakh rupees per annum.

• Students whose parents are government employees.

Benefits:

• Exposure to industries and more career opportunities

• Enhancing skills and job training

• Financial independence

• Certificate of internship which is beneficial for future jobs

Conclusion:

The PM Internship Scheme is a groundbreaking initiative that empowers young individuals with industry-relevant skills, financial support, and career opportunities. By fostering practical learning and providing certification, the scheme not only enhances employability but also contributes to India’s goal of building a skilled and self-reliant workforce.