PM Internship Scheme 2024 Launch Delayed for Review
The launch of the PM Internship Scheme 2024 has been delayed because feedback from the pilot phase is still under review. According to a report by Business Today, a new launch date will be announced soon. The report, citing a source familiar with the matter, mentioned that the scheme is expected to roll out in the coming weeks.
The report posted by company states:
- Upto 1.27 lakh internship opportunities for scheme
- Approximately 6.21 lakh applications were received.
- The PM Internship Scheme focuses to give one crore internships over five years in top 500 companies. The duration of each internship is 12 months.
The selection of the top 500 companies is based on their Corporate Social Responsibility (CSR) spending over the past three years, and participation in the scheme is voluntary. For the financial year 2024-25, the government plans to offer 1.25 lakh internships through these companies.
During the 12-month internship, at least half the time must be spent in a real workplace, not in a classroom setting. This will give candidates practical experience in different professional environments and help them explore diverse career opportunities.
The report noted that ?2,000 crore was allocated for the scheme in the 2024-25 Budget. By November 20, ?6.04 crore had already been spent. Each candidate will receive a one-time allowance of ?6,000 and a monthly stipend of ?4,500 from the government. Additionally, the participating company will contribute ?500 per month per candidate.
Recently the Ministry of Corporate Affairs extended the registration deadline for the scheme to November 15. This was done so that many students could benefit.
The eligibility criteria required are:
- Candidates must complete class 10th,
- A higher secondary school certificate
- An ITI certification, a diploma from a polytechnic, or a degree such as BA, B.Sc, B.Com, BCA, BBA, or B.Pharma.
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