PM Internship Scheme: How to apply online and avail stipend
What's the story
The Prime Minister's internship scheme, which was first revealed by Union Finance Minister Nirmala Sitharaman during her budget speech on July 23, is all set to launch its online portal today.
The application process for eager candidates will kick off on October 12.
This initiative—a joint effort between the central government and the Confederation of Indian Industry (CII)—is part of a broader effort to provide skill training to over one crore youth in India over the next five years.
Internship details
Internship scheme to provide opportunities in top Indian companies
The internship scheme is all about giving young dreamers a shot at interning with India's top 500 companies.
These companies were picked based on how much they spent on corporate social responsibility (CSR) over the last three years.
Here's how it works: the portal will shortlist twice the number of candidates for each position based on eligibility, preferences and profile.
Then the companies will review the applications of shortlisted candidates and send out offer letters to their chosen interns.
Benefits
Internship scheme offers financial benefits and practical experience
Interns under this scheme will get a monthly stipend of ₹5,000 and a one-time financial aid of ₹6,000.
The stipend will be given as ₹4,500 per month through direct benefit transfer (DBT), with an extra ₹500 coming from companies' CSR funds.
The 12-month internship program aims to ensure that at least 50% of the training involves hands-on work in a real business setting.
Eligibility
Eligibility criteria and application process for PM Internship Scheme
To hop on this internship train, you need to be a permanent resident of India, aged between 21 and 24, and currently unemployed.
When you're applying, make sure to have your Aadhaar card, email ID, mobile number, address proof, PAN card, and ration card handy.
You can register on the internship portal using an Aadhaar-based e-KYC process and then just submit a self-declaration to confirm you're eligible.
Exclusions
PM's internship scheme excludes certain categories of applicants
The PM Internship Scheme has some exclusions as well.
It doesn't cover graduates from top institutes like IIT or IIM, folks aged 25 and above, people in full-time jobs, or those hailing from families with government jobs or an annual income of ₹8 lakh or above.
After the 12-month internship, companies will hand out a certificate of completion on the portal.
However, the companies aren't obliged to offer a job after the internship.