A centralized portal will be launched today under the PM Internship Scheme of the Central Government. Companies can invite candidates for internships through this portal. From October 12, interested interns can apply on this special portal PM Internship Scheme Portal.
The scheme is part of the initiative to provide skill training to over one crore youth in India over the next 5 years, with a budget of Rs 2 trillion. The programme aims to improve employability of young individuals, especially those with limited access to higher education or specialised training.
This one-year program targets young individuals aged 21-24 and offers internships in India’s top 500 companies. The initiative, part of the Prime Minister’s Package for Employment and Skilling, was first announced in the Union Budget. Candidates can apply through an internship portal that will also launch on the same day. The eligibility criteria state that applicants must not be in full-time jobs and should come from families without government employees.
Interns will receive Rs 4,500 per month via direct benefit transfer (DBT), while companies will add Rs 500 from their corporate social responsibility (CSR) funds. Eligible companies have been chosen based on their average CSR spending over the past 3 years.
During the representation of the education budget, the Finance Minister of India Mrs. Nirmala Sitharaman announce the launch of the Prime Minister Internship Scheme 1 Crore Youth 2024. Under this scheme, the government of India will provide internships to all students who have completed their education. The Government of India will also provide financial assistance and a monthly stipend to all selected applicants under the scheme. The financial assistance under the scheme will be transferred directly to the selected applicant’s bank account.
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