Government rolls out corporation internships, targets placing one lakh by December

The Indian government aims to place one lakh youth in internships with leading companies through the PM Internship scheme by December 2. Registration has begun for the top 500 companies based on their CSR spending, allowing young aspirants aged 21 to 24 to apply online. On the first day of the pilot program, 111 companies, including M&M, Alembic, and Max Life, registered on the portal set up by the Ministry of Corporate Affairs, offering a total of 1,079 internships primarily in production and maintenance roles. Currently, these opportunities are focused on facilities in Maharashtra, Telangana, Gujarat, and Uttarakhand, although other companies can also participate.

The scheme, announced by the Union Minister for Finance and Corporate Affairs Mrs. Nirmala Sitharaman in the budget, allocates US$ 786 (Rs. 66,000) to each intern and includes reservation policies for SC/STs, OBCs, and persons with disabilities. Eligibility extends to those whose parents or spouse earn up to US$ 9,527 (Rs. 8 lakh), while graduates from IITs, IIMs, and certain professionals like CAs and doctors are excluded. The pilot program, costing US$ 95.90 million (Rs. 800 crore), aims to provide internships within candidates' home districts or nearby areas. In addition to monthly financial assistance of US$ 59 (Rs. 5,000) for one year, interns will receive a one-time grant of US$ 71 (Rs. 6,000). Online registration for candidates will be open from October 12 to 25, with the ministry shortlisting applicants on October 26, and companies having until November 7 to select candidates, who will then have a week to accept their offers.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.