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Govt rolls out internship scheme on pilot basis; aims to provide 1 cr internship over 5 years

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- The government has launched an internship program that will offer financial assistance of Rs 60,000 per year to 1 crore young individuals over five years. - The pilot project, with a total cost of around Rs 800 crore in 2024-25, aims to provide internships to 1.25 lakh candidates during that fiscal year. - The Prime Minister's Internship Scheme in Top Companies will also provide insurance coverage to the interns. - The program will be implemented through an online portal developed by the corporate affairs ministry. - Youth aged between 21 and 24 years, meeting certain conditions, will be eligible to apply for the internship program. - The internship program is set to begin on December 2. - Candidates can register on the online portal starting from the second week of October. - Participating companies will offer internships for a duration of 12 months, with at least half of the period spent in the actual job environment. - The interns will receive a financial assistance of Rs 5,000 per month, with Rs 4,500 disbursed by the government and Rs 500 paid by the company from its CSR funds. - Each intern will also receive a one-time grant of Rs 6,000 for incidentals upon joining the place of internship. - Insurance coverage will be provided to each intern under the government's insurance schemes. - Eligible candidates include those enrolled in online/distance learning programs, as well as individuals with various academic qualifications. - Partner companies will have a dedicated dashboard on the portal to post internship opportunities and provide detailed information on location, qualifications, and facilities offered. - Candidates can register, browse internships, and apply for up to five opportunities based on their preferred sectors, roles, and locations.