Prime Minister's Internship Scheme, Objectives and Benefits

Prime Minister’s Internship Scheme, Objectives and Benefits

Pradhan Mantri Internship Scheme is an initiative by the Government of India aimed at providing internships to young students, graduates, and professionals. Check here Key Features of the PM Internship Scheme.

Context: The Union government has opened up a portal for India’s top companies to participate in the one-year internship scheme which was announced in this year’s Union Budget.

Prime Minister Internship Scheme

Aim: To provide internship opportunities to one crore youth in the top 500 companies.
Benefits:
- A monthly stipend of ₹4,500 will be provided to the interns from the central government via DBT (Direct Benefit transfer)
- Additional ₹500 offset will be provided by the company’s CSR fund.
Internship Period: 1 Year
Eligibility:
- Candidates aged between 21 and 24 years who are not engaged in full-time employment are eligible for the one-year internship programme.
- Internships are available to those who have passed class 10 or higher.
Exceptions:
- Individuals from families with government jobs are excluded
- A candidate who graduated from premier institutes such as IIT, IIM or IISER, and those who have CA, or CMA qualification would not be eligible to apply for this internship.
- Anyone from a household that includes a person who earned an income of ₹8 lakh or more in 2023-24, will not be eligible.

What is CSR (Corporate Social Responsibility)?

It is a concept whereby companies integrate social and environmental concerns in their business operations.
In India, Companies Act, 2013 has made CSR contribution mandatory.