Union Finance Minister Nirmala Sitharaman also pointed out that five different schemes were announced to increase job enrollments and provide support to both job seekers and employers, during the launch of the ‘Prime Minister Internship Scheme App.’
Union Finance Minister Nirmala Sitharaman on Monday launched the ‘Prime Minister Internship Scheme App’ from the New Parliament House in New Delhi. Sitharaman lauded Prime Minister Narendra Modi for his visionary approach, highlighting his recognition that today’s youth are pursuing diverse courses based on their aptitudes while industries are undergoing significant changes, incorporating AI, robotics, and other advancements.
The Union Minister also pointed out that five different schemes were announced to increase job enrollments and provide support to both job seekers and employers, during the launch of the ‘Prime Minister Internship Scheme App.’
“It was absolutely visionary of PM Modi to put the finger on the point that today, our youth are going through various different courses as per their aptitude and our industry is also going through a lot of change. They are bringing in AI, robotics, and various other things. So, as much as you train your youth, there still is a shortage of industry expectation in the skills that they expect which they want to find in every new recruit. Five different schemes were announced to improve more enrolments into jobs, support to job seeker and employer,” the Finance Minister said.
What is the PM internship scheme? Check its benefits
The Prime Minister Internship Scheme (PMIS), introduced in the Union Budget for 2024-25, saw 28,141 candidates accept internship offers in its initial round. The second round, launched in January, aims to offer over 100,000 internship opportunities across more than 300 companies, targeting 1.25 lakh internships for the 2024-25 fiscal year.
Over the next five years, the initiative plans to partner with the top 500 companies and provide internships to 10 million young professionals.
Interns will receive a monthly stipend of Rs 5,000, a one-time grant of ₹6,000 for incidental expenses, and insurance coverage through the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.
To qualify, applicants must be between 21 and 24 years old, have completed Grades 10 and 12, and hold an undergraduate degree, ITI diploma, or other technical qualifications.
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