Also, candidates who have studied from IIT, IIM, IISER or have CA, CMA among others as qualifications will not be eligible for this scheme. Sources said that youth from ITI and Kaushal Kendra will be eligible to apply.

“There are certain criteria about age and immediate family members not being tax payers or government employees. The portal will open for companies to upload details of internship openings from October 3 and on October 12. will go live for candidates to apply for the internship,” said an insider. Indian Express.

The person explained the selection process of the scheme, saying that the candidates will be selected through a back-end bot and the companies will then screen and select the candidates. There will be no bias in the selection process. If a company is not okay with a candidate being automatically selected for a position, it will return and the process will start over. A panel comprising government officials and industry representatives will be constituted to address any selection issues and ensure compliance in an impartial manner,” the person said.

Internship Scheme, under Budget Announcing the Prime Minister’s package for employment and skill development with a total outlay of Rs 2 lakh crore, which aims to provide skill training to over one crore youth in India’s top 500 companies over five years, with less The focus will be on employed persons. An amount of Rs 4,500 will be provided by the Government of India through Direct Benefit Transfer (DBT) with an additional Rs 500 from the company’s CSR (Corporate Social Responsibility) funds.

The companies have been selected on the basis of their average CSR spend over the last three years. The scheme, which will be implemented by the Ministry of Corporate Affairs, will spend at least half the time (6 months total) in actual work experience/job environment and not in the classroom. “Companies can tie-up with companies in their forward and backward supply chain (eg suppliers or customers) or with other companies or institutions in its group or otherwise for internships,” the source said. Sources said.

The internship scheme will have two phases, Phase 1 aims to skill 3 million youth over a period of two years. Phase 2 aims to skill another 7 million youth over the next three years.

According to the rules to be laid down for the scheme, a company can choose to pay an intern more than the Rs 5,000 per month provided under the scheme, sources said. However, any amount exceeding Rs.500/-, which the Company has to pay from its CSR funds, shall be fully borne by the Company and shall not be considered as part of the CSR expenditure.

Sources said the government will provide an accident grant of Rs 6,000 per annum, which should cover miscellaneous expenses incurred by the intern during the internship.

Industry body Confederation of Indian Industry (CII), which has partnered with MCA to launch the internship scheme, said the scheme gave hands-on experience to youth in India in a real-world business environment. It will increase employment by offering exposure. The industry grouping said the scheme will also benefit the industry by creating a pipeline of skilled, work-ready youth who will be employed in large and micro, small and medium enterprises (MSMEs) after internship. can

“As industries face a growing talent shortage, the PM Internship Scheme provides an important bridge. By offering on-the-job training to youth, it will prepare them to meet the evolving demands of the industry, while will ensure that businesses have access to a skilled and agile workforce of the future, fostering growth and innovation,” said Chandrajit Banerjee, Director General, CII. .