Eligibility Criteria and Conditions

The scheme comes with specific eligibility criteria. Candidates should be between 21 and 24 years of age and should not be engaged in full-time employment. Persons belonging to families whose members are employed in government jobs are excluded from participation. Additionally, candidates who have studied in reputed institutes like Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), Indian Institutes of Science Education and Research (IISER), or Chartered Accountants (CA ) have the same ability or cost. And Management Accountant (CMA) will also not be eligible.

However, the scheme will remain open to youth trained in Industrial Training Institutes (ITIs) and Kushal Kendras (skill centres), ensuring that it reaches out to those with fewer opportunities in the traditional job market.

Transparent selection process

Interns will be selected through a back-end automated process to eliminate bias. Companies will automatically review selected candidates, and if not satisfied, the process will start over. A panel of government officials and industry representatives will oversee the process to ensure compliance and fairness.

There will be no bias in the selection process. If a company is not OK with an automatically selected candidate, the process will start over. A panel of government and industry representatives will resolve any issues,” a source familiar with the matter told The Indian Express.

A big boost for youth employment

This internship scheme is part of a wider initiative to provide skill training to over one crore youth in India over the next five years. With a total expenditure of Rs 2 trillion, it aims to increase youth employment, especially those with limited access to higher education or specialized training.

The government will provide Rs 4,500 per month to interns through Direct Benefit Transfer (DBT), while companies will contribute an additional Rs 500 from their Corporate Social Responsibility (CSR) funds. Eligible companies to participate in the program are selected based on their average CSR spend over the past three years.

Interns will be required to spend at least six months in a real-world working environment, ensuring that they gain hands-on experience rather than just classroom-based training. Companies will also have the flexibility to collaborate with their supply chain partners or other organizations to offer a more comprehensive internship experience.

Phased implementation

The scheme will be implemented in two phases. Phase 1, aimed at upskilling 3 million youth, will span two years, while Phase 2 aims to train an additional 7 million youth over three years. The government is committed to support the interns by providing an annual grant of Rs 6,000 to cover incidentals and other miscellaneous expenses.

Although the stipend provided by the government and companies under the scheme is fixed at Rs 5,000 per month, companies can choose to pay more than this if they wish. Any amount exceeding Rs.500/- will be fully borne by the company through CSR contribution and will not be included in their CSR expenditure.

Industry benefits and support

The Confederation of Indian Industry (CII), which has partnered with the Ministry of Corporate Affairs (MCA) to implement the programme, lauded the initiative, noting that it is a source of skilled manpower for Indian industry. Will create pipeline of force. CII Director General Chandrajit Banerjee emphasized the importance of the scheme in addressing the skill shortage in the country.

“Industries are facing a growing talent shortage, the PM Internship Scheme provides an important bridge. By offering on-the-job training to the youth, it prepares them to meet the growing demands of the industry,” Banerjee said. will, while ensuring that businesses have access to a skilled and agile workforce of the future, foster growth and innovation,” said Banerjee.

First Publication: October 02 2024 | 10:35 am I.S