PM Internship Scheme to Focus on Economically Weaker Sections

 

The Prime Minister’s Internship Scheme will primarily target youth from economically weaker households with no family member earning more than ₹8 lakh per year, announced a senior official from the Ministry of Corporate Affairs on Thursday. The scheme aims to provide opportunities to young individuals who might otherwise lack access to career-building platforms.

In a significant move, the scheme will also consider traditional caste-based reservations while selecting candidates. This dual focus on economic and social equity is expected to enhance the representation of marginalized groups in the corporate workforce.

Corporates Join Hands

Alembic Pharmaceuticals, Mahindra & Mahindra, and Max Life Insurance are among the first batch of 111 companies that have come forward to implement the scheme as part of their voluntary corporate social responsibility (CSR) efforts. As a pilot initiative, the scheme is expected to roll out in phases, with more companies joining over time.

Key Highlights of the Scheme

• Eligibility Criteria: Youths from households where no family member earns more than ₹8 lakh annually will be eligible to apply. Traditional caste-based reservations will also apply in candidate selection.
• Target and Objectives: The government expects around 125,000 youth to benefit from this scheme by securing internships with various companies by December 2, 2024. This initiative is anticipated to help bridge the skill gap and increase employability among disadvantaged sections of society.
• Pilot Project: The pilot phase of the scheme will incur an initial cost of ₹800 crore to the government, focusing on onboarding 500 large companies.

How the Scheme Works

The Ministry has launched an online portal through which aspiring candidates can apply for internships at large firms. Companies can register on the portal from September 3 to October 10, 2024, to set up accounts and provide their requirements for internships.

The portal will be open to youths from October 12 to 25, 2024, to submit their applications. Companies will then shortlist eligible candidates using technology-driven tools and publish the list of selected candidates by October 26. Internship offers will be issued between November 8 and 15, allowing candidates to begin their journey towards practical experience and professional growth.

Companies' Role and Expectations

The participating companies are expected to assess candidates based on various criteria, including their qualifications, skill levels, and the organization's specific requirements. These internships will also fulfill the companies’ CSR obligations over three years, covering the period from 2022-23 onward.

Moreover, companies outside the initial batch of 111 are welcome to join the scheme, provided they obtain approval from the Ministry of Corporate Affairs. This open invitation is expected to encourage more corporate houses to contribute to this initiative, thus expanding its reach and impact.

Empowering Youth for a Brighter Future

The PM Internship Scheme is a well-timed intervention aimed at empowering youth from economically weaker sections by equipping them with skills and opportunities. With the active participation of the private sector, this scheme holds the potential to make a significant difference in the lives of thousands of young individuals, providing them with a stepping stone towards a successful career.