Budget: Youth from small cities to get a chance in PM Internship Scheme
New Delhi|Before the Union Budget 2025, there has been a big update regarding the Prime Minister Internship Scheme. The Ministry of Corporate Affairs may involve the State Governments during the preparations for the second phase of this scheme, so that the share of applicants can increase. Sources say that an announcement regarding the update of this scheme is possible in the budget. The scope of incentives in the scheme can be increased. While on the other hand, about 280 companies are in the process of implementing this scheme. They will identify internship opportunities in the districts.
Actually, at present the Prime Minister Internship Scheme is at the experimental level. It has offered less than 1,00,000 internships, while companies provided 1,27,000 opportunities in the first phase. Sources said the government may take steps to broaden the reach of the program and make it more attractive. Under this scheme, a target has been set to provide 1,25,000 opportunities by March 2025. But to attract more applicants, the government is considering making some changes, which include increasing the age limit and relaxing the educational norms.
Sources say that changes will be made in the scheme only on the basis of the initial results of this scheme. After this, the ministry will take approval from the cabinet to fully implement this scheme. The top 500 companies will participate in the scheme based on the expenditure on Corporate Social Responsibility (CSR) averaged over the last 3 years. Most of these companies are now becoming part of the internship scheme. We are working closely with them to offer internship plans. The second phase is likely to be implemented in February, when the next batch of interns will undergo training in companies.
Rs 2,000 crore was allocated in the budget for FY 2024-25 for the Pradhan Mantri Internship Scheme. Of these, Rs 6.04 crore has been spent as of 20 November. The scheme is running in partnership with the top 500 companies, which will be based on their average corporate social responsibility expenditure over the last three years. Participation in it is voluntary, but it is intended to provide a larger platform for young people. The aim of this scheme is not only to provide experience to the youth but also to connect them with employment opportunities, so that their future can be bright. Candidates selected for this scheme will receive a lump sum allowance of Rs 6,000 and a monthly stipend of Rs 4,500. In addition, an additional payment of Rs 500 per month will be made to each candidate by the companies.
