Launched under Budget 2024-25, PMIS aims to offer internships to millions across top companies over five years

December 5, 2024- The much-awaited PM Internship Scheme (PMIS) finally launched recently, as young interns from all corners of the country started their stints with major firms like IOCL, ONGC, Vedanta, Maruti Suzuki, Titan, and NTPC.

A direct benefit transfer of Rs 6,000 is also being provided as one-time grant to eligible interns in connection with the rollout of the scheme.

The pilot phase of the scheme targets 1.25 lakh internship opportunities for students in the age bracket of 21-24 years. Under the policy, the intern will get a stipend of Rs 5,000 for 12 months. “The internships under PMIS are meant to hone the skills of the youth, thus making them more employable,” said a statement from the Ministry of Corporate Affairs.

Some companies, like ONGC, provide them with accommodation, who are coming from the farthest corners of the country, and train them in soft skills and computer proficiency. Others have also developed a quite intensive induction program of 30 days, like Maruti Suzuki.

Announced as a part of the 2024-25 Union Budget, the PM Internship Scheme is going to be opened up for 10 million youths in top companies over the next five years. During its pilot phase, the scheme, which was rolled out earlier this year, saw more than 6.5 lakh applications for 1.27 lakh available positions across 280 companies. The scheme was to be launched on December 2 but has been officially initiated and is now in full swing.

The PMIS is a key part of the government’s broader efforts to boost youth employability and equip young people with the skills and experience needed to succeed in the workforce.