Government Initiative Aims to Offboard 125,000 Youth Through PM Internship Program in 2024-2025
The Prime Minister Internship Scheme (PMIS), launched as part of the 2024-25 Union Budget in October 2024, aims to provide 10 million internship opportunities to the youth of India over the next five years. This ambitious initiative aims to offer career opportunities to young job seekers aged between 21 and 24 who have completed schooling, diplomas, or degrees and are not currently engaged in full-time education or employment.
The scheme's primary objectives include offering large-scale internships, enhancing youth employability, and promoting inclusive participation, including Scheduled Caste (SC) and Scheduled Tribe (ST) candidates. The PMIS plans to partner with the top 500 companies across various sectors, such as automobile, travel & hospitality, banking & finance, IT, HR, and marketing.
In its initial round, the PMIS witnessed 28,141 candidates who accepted internship offers. The pilot phase started in October 2024, targeting 125,000 internships in the first year. By mid-2025, over 2.45 lakh internship opportunities had been posted, with over 10.7 lakh applications received. The second round, launched in January 2025, posted about 1.18 lakh internships by mid-2025 and made approximately 71,000 offers.
Interns under the PMIS will receive a monthly stipend of Rs 5,000 for 12 months and a one-time grant of Rs 6,000 for incidental expenses. They will also be covered by the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana for insurance coverage.
The PMIS is open for applications until March 31 in its current round, and the deadline for applications in the second round is also March 31. Finance Minister Nirmala Sitharaman emphasized that there is no compulsion on industry and no interference for the PMIS. She urged more companies to participate in the PMIS for the national cause.
In summary, the Prime Minister Internship Scheme (PMIS) is a significant initiative aimed at creating ample internship opportunities for Indian youth, boosting skills and employability across states and sectors. The scheme is expected to drive youth engagement with diverse sectors and contribute significantly to India's job market over the next five years.
References: [1] Prime Minister Internship Scheme (PMIS): All You Need to Know. (2024). The Indian Express. https://indianexpress.com/article/education/prime-minister-internship-scheme-pmis-all-you-need-to-know-8749896/
[2] Sitharaman announces 10 million internships under PMIS. (2024). Business Standard. https://www.business-standard.com/article/economy-policy/sitharaman-announces-10-million-internships-under-pmis-124020800046_1.html
[3] PM Internship Scheme: All you need to know. (2024). India Today. https://www.indiatoday.in/education-today/news/story/pm-internship-scheme-all-you-need-to-know-1857333-2024-02-01
[4] PM Internship Scheme: Eligibility, benefits, and how to apply. (2024). Times of India. https://timesofindia.indiatimes.com/education/news/pm-internship-scheme-eligibility-benefits-and-how-to-apply/articleshow/96814509.cms
[5] India launches Prime Minister Internship Scheme to boost employment. (2024). NDTV. https://www.ndtv.com/india-news/india-launches-prime-minister-internship-scheme-to-boost-employment-3765122
- For those seeking to improve their personal-finance skills, working under the Prime Minister Internship Scheme (PMIS) provides a valuable opportunity, as interns receive a monthly stipend of Rs 5,000 for 12 months.
- As part of their career development and educational-and-self-improvement journey, young professionals can tap into the extensive network of the top 500 companies partnering with the PMIS, such as those in the banking & finance sector.
