PM Internship Scheme 2024 – Eligibility, Benefits and Application Process

India’s Finance Minister has introduced the PM Internship Scheme for 2024. While presenting the education budget, Finance Minister Nirmala Sitharaman revealed the launch of this initiative aimed at offering internships to students who have completed their studies.

The scheme will not only provide internship opportunities but also financial aid and a monthly stipend for those who are selected. The financial support will be directly deposited into the selected candidates’ bank accounts, ensuring a smooth and efficient process.

PM Internship Scheme 2024 – Overview

Scheme Name	PM Internship Scheme 2024 (PMIS)
Lauched By	Ministry of Corporate Affairs (MCA), India
Application Begin	12/10/2024
Last Date for Apply Online	As per Schedule
Application Fee	Nil
Age Limit	Minimum: 21 Years Maximum: 24 Years
Age Relaxation	As per PM Internship Scheme 2024 Rules
Duration of Internship	12 Months (Real Life Experience in India’s Top Companies)
Monthly Assistance	₹5000/-
One Time Grant	₹6000/-
Insurance Coverage	Under PM Jeevan Jyoti Bima Scheme & Pradhan Mantri Suraksha Bima Yojana

What is PM Internship Scheme 2024?

To boost employment opportunities for the nation’s unemployed, the Indian government has launched the Prime Minister Internship Scheme. According to the announcement by India’s finance minister, this initiative aims to benefit 1 crore young individuals across the country.

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Through this scheme, the government seeks to equip youth with practical work experience, enhancing their job prospects. Eligible candidates are encouraged to apply online via the official website to take advantage of the Prime Minister Internship Scheme 2024 and secure their career growth.

Objectives of PM Youth Internship Scheme

• The PM Youth Internship Scheme is designed to provide young people in India with corporate work experience.
• It offers participants valuable employment opportunities.
• Selected candidates will receive a monthly stipend of up to INR 5000, as per the Government of India.
• Additionally, participants will be granted a one-time financial assistance of INR 6000.
• Interns will get the opportunity to work with the top 500 companies in India.
• The scheme empowers unemployed youth to manage their daily expenses independently, reducing their reliance on others.

Prime Minister Internship Scheme: Eligibility Requirements

To be eligible for the Prime Minister Internship Scheme, candidates must meet the following criteria:

1. The applicant must be an Indian citizen and a permanent resident of the country.
2. The age of the applicant should fall between 21 to 24 years.
3. The candidate should not be employed in any full-time job.
4. Educational qualifications must include either a Secondary School Certificate (SSC), Higher Secondary Certificate (HSC), or equivalent qualification. Alternatively, candidates can hold a diploma from an Industrial Training Institute (ITI) or Polytechnic, or a graduation degree such as BA, B.Sc, B.Com, BCA, BBA, or B.Pharma.

The following conditions will disqualify you from applying to this Scheme:

• Applicants currently engaged in full-time employment or full-time academic programs are not eligible.
• Graduates from prestigious institutions such as IITs, IIMs, National Law Universities, IISER, NIDs, or IIITs cannot apply.
• Individuals holding professional qualifications like CA, CMA, CS, MBBS, BDS, MBA, PhD, or any master’s degree are not eligible.
• Those participating in government-run skill development, apprenticeship, or internship programs are disqualified from applying.
• Applicants who have previously completed apprenticeships under the NATS or NAPS schemes are not eligible.
• If your family’s total income for the financial year 2023-24 exceeds Rs. 8 lakh, you are disqualified.
• Having a permanent or regular government employee in your immediate family (self, parents, or spouse) disqualifies you, except in the case of contractual employees.

Advantages of the Prime Minister Internship Scheme

Here are the main advantages offered by the Prime Minister Internship Scheme:

1. Skill Development: The scheme provides hands-on training, helping interns acquire industry-relevant skills needed in the job market.
2. Boosts Employability: Participants gain valuable work experience in leading organizations, significantly enhancing their job prospects.
3. Financial Support: Interns are provided with a monthly stipend of Rs. 4,500 from the government, supplemented by an additional Rs. 500 from the companies, offering monetary support during their internship period.
4. Real-World Exposure: Interns gain first-hand experience of professional environments, helping them better understand workplace dynamics and expectations.
5. Networking Opportunities: The scheme offers opportunities to intern at India’s top 500 companies, expanding interns’ professional connections.
6. Inclusive Participation: It promotes workforce participation from diverse backgrounds, including those from Industrial Training Institutes (ITIs) and skill development centers.
7. Nationwide Skill Development: With the goal of training over 10 million youth within five years, the scheme aims to address workforce skill shortages.
8. Fair Selection Process: The transparent recruitment process ensures an equal and unbiased opportunity for all candidates.
9. Collaborative Opportunities: Companies can work with various partners to create a more enriching and well-rounded internship experience.

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Financial Assistance and Monthly Allowance

Selected candidates under the Prime Minister Internship Scheme 1 Crore Youth will receive financial Assistance of ₹6,000. Additionally, a monthly allowance of up to ₹5,000 will be awarded to those chosen for this initiative.

Prime Minister Internship Scheme Application Process 2024

If you’re interested in applying for the Prime Minister Internship Scheme, follow these simple steps:

Step 1: Navigate to the official PM Internship Scheme website.

Step 2: Start the registration process by providing your personal and educational details.

Step 3: Upon successful registration, a resume will be automatically generated based on the information you provided.

Step 4: After that, Login to your account by using your Username, Mobile number, or CIN, followed by your Password.

Step 5: Then, use the platform’s search feature to explore available internships that align with your interests in terms of sector, location, and role.

Step 6: Choose and apply for up to five internship opportunities that match your qualifications and preferences.

Step 7: The portal will evaluate the applications and shortlist candidates according to the criteria set by partner organizations.

Step 8: Companies will review the shortlisted candidates and extend offers based on their selection criteria.

Step 9: Once you receive an internship offer, you can accept it directly through the portal.