The government has launched the pilot project of the Prime Minister’s Internship Scheme, aimed at offering 1.25 lakh internship opportunities in the top 500 companies across India during the financial year 2024-25. This initiative, part of a five-year plan announced in the 2024-25 budget, envisions providing one crore internships to Indian youth over time, helping them gain valuable experience in business environments.
Internships will be facilitated through an online portal developed by the Ministry of Corporate Affairs (MCA). Registration for internships will be open from October 12 to 25, 2024, with selections made between October 27 and November 7, and the first batch of internships starting on December 2, 2024.
Companies such as Mahindra & Mahindra, Max Life, and Alembic Pharma have already made over 1,000 internship offers as part of this pilot. Participating companies will oversee the quality of internships, even in associated entities, ensuring interns receive practical job experience.
Interns will receive a monthly financial assistance of ₹5,000, with ₹4,500 from the government and ₹500 from the companies, plus a one-time grant of ₹6,000 for incidentals. Interns will also benefit from insurance coverage under government schemes.
