Finance Minister Nirmala Sitharaman has announced a new initiative, the PM Internship Scheme , as part of the general budget for the financial year 2024-25. This scheme aims to benefit around 1 crore youth over the next 5 years, providing them with valuable work experience and a monthly allowance of ₹5000. Additionally, interns will receive a lump sum payment of ₹6000 after completing one year of the program.
Here are the key details about the PM Internship Scheme, including how much allowance you can receive, eligibility criteria , and the application process .
Allowance Under the PM Internship Scheme
Each intern in the PM Internship Scheme will receive a monthly allowance of ₹5000. This will be shared between companies and the government, with ₹4500 provided by the government and ₹500 contributed by companies from their CSR (Corporate Social Responsibility) funds. After successfully completing one year of the internship, interns will also receive an additional lump sum payment of ₹6000 from the government.
1 Crore Youth to Benefit
Announced in the 2024-25 budget, the scheme aims to benefit approximately 1 crore youth within 5 years. In the first phase, 30 lakh young people will be enrolled in the program over the next 2 years. Following that, another 70 lakh youth will be added to the scheme over the next 3 years.
Opportunity to Work with Top 500 Companies
Participants in the PM Internship Scheme will have the chance to gain work experience in 500 of India’s top companies. These companies will provide internships under the scheme, contributing 10% of the stipend through their CSR funds, allowing youth to build valuable skills and professional experience over a one-year period.
Eligibility: Who Can Apply?
To be eligible for the PM Internship Scheme, applicants must meet the following criteria:
Who Cannot Apply?
Certain individuals are excluded from the scheme. You cannot apply if:
How to Apply for the PM Internship Scheme
To apply, candidates must visit the official portal of the PM Internship Scheme, where they can fill out an application form. Applicants will be required to provide information about their skills and areas of interest. Based on their qualifications, the system will assign them an internship opportunity that matches their profile.
Documents Required for Application
Before applying, candidates should ensure they have the following documents ready:
Application Start Date
The official portal for the PM Internship Scheme will go live on October 3, but candidates will be able to register for the scheme starting from October 12.
This initiative is expected to empower young people across India by providing them with both financial support and professional work experience.
Here are the key details about the PM Internship Scheme, including how much allowance you can receive, eligibility criteria , and the application process .
Allowance Under the PM Internship Scheme
Each intern in the PM Internship Scheme will receive a monthly allowance of ₹5000. This will be shared between companies and the government, with ₹4500 provided by the government and ₹500 contributed by companies from their CSR (Corporate Social Responsibility) funds. After successfully completing one year of the internship, interns will also receive an additional lump sum payment of ₹6000 from the government.
1 Crore Youth to Benefit
Announced in the 2024-25 budget, the scheme aims to benefit approximately 1 crore youth within 5 years. In the first phase, 30 lakh young people will be enrolled in the program over the next 2 years. Following that, another 70 lakh youth will be added to the scheme over the next 3 years.
Opportunity to Work with Top 500 Companies
Participants in the PM Internship Scheme will have the chance to gain work experience in 500 of India’s top companies. These companies will provide internships under the scheme, contributing 10% of the stipend through their CSR funds, allowing youth to build valuable skills and professional experience over a one-year period.
Eligibility: Who Can Apply?
To be eligible for the PM Internship Scheme, applicants must meet the following criteria:
- Age: Between 21 and 24 years old
- Education: Must have at least passed 10th grade
Who Cannot Apply?
Certain individuals are excluded from the scheme. You cannot apply if:
- You or a family member is employed in a government job
- Your family's annual income exceeds ₹8 lakh
- You are currently in full-time employment
How to Apply for the PM Internship Scheme
To apply, candidates must visit the official portal of the PM Internship Scheme, where they can fill out an application form. Applicants will be required to provide information about their skills and areas of interest. Based on their qualifications, the system will assign them an internship opportunity that matches their profile.
Documents Required for Application
Before applying, candidates should ensure they have the following documents ready:
- Aadhaar card
- Email ID
- Mobile number
- Address proof
- Educational details
- PAN card
Application Start Date
The official portal for the PM Internship Scheme will go live on October 3, but candidates will be able to register for the scheme starting from October 12.
This initiative is expected to empower young people across India by providing them with both financial support and professional work experience.
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