PM Internship Scheme 2024 Launched: Youth to Receive ₹5,000 Monthly Stipend, Applications Open October 12
Delhi News
The Indian government has officially launched the PM Internship Scheme 2024, offering exciting opportunities for young people to gain practical experience in top companies nationwide. Announced during the Union Budget, the scheme is designed to bridge the gap between academic learning and the real-world business environment, ensuring that youth are equipped with the necessary skills for future employment. The program will initially run as a pilot initiative, providing selected candidates with a monthly stipend of ₹5,000 and additional benefits.

Program Overview
The scheme, which aims to provide one crore internship opportunities over the next five years, offers 12 months of practical work experience in various sectors. Selected candidates will intern with leading companies, where they will not only learn the industry’s day-to-day operations but also enhance their understanding of the competitive business environment. Applications for this highly anticipated scheme will open on October 12, 2024.
The launch of the PM Internship Scheme marks a significant step by the central government towards empowering the youth of India by offering them valuable on-the-job experience. This internship is expected to boost the employability of participants as they gain first-hand knowledge of the work culture and operations of top companies across the country. Candidates selected for the program will receive a monthly stipend of ₹5,000 and an additional lump sum payment of ₹6,000 upon joining their internship.
Selection Process and Timeline
Applications for the PM Internship Scheme will begin on October 12, and the selection process will follow shortly after. Companies involved in the pilot project will start making their selections between October 27 and November 7. Candidates will then have the opportunity to accept or decline offers from November 8 to November 15.
If a candidate is unsatisfied with their first offer, they will be presented with up to two more opportunities. However, further offers will only be provided after this. A candidate can apply for a maximum of five internships, providing them with multiple chances to secure the role best suited to their interests and career goals.
Participating Companies
Under the pilot project, more than 111 companies have offered over 1,077 internship positions. Some leading companies participating in the scheme include well-known names like Alembic Pharmaceuticals, Mahindra & Mahindra, and Max Life Insurance. This initiative offers candidates a diverse range of industries to choose from, enabling them to explore various career paths based on their qualifications and interests.
Students and job seekers from states like Maharashtra, Gujarat, Telangana, and Uttarakhand have already expressed interest in the scheme by contacting the designated call center for inquiries. The call center can be reached at 18000161090 for those interested in applying or seeking more information.
Reservation and Financial Investment
According to government sources, the scheme aims to provide 1.25 lakh internship opportunities during the current financial year. An estimated budget of ₹800 crore has been allocated to implement this. Additionally, the scheme will follow central government reservation policies, ensuring that opportunities are fairly distributed across different sections of society. This is expected to provide equal opportunities for candidates from marginalized communities to participate and benefit from the scheme.
The 12-month internship is intended as a learning experience and a stepping stone for employment opportunities. With hands-on training and exposure to real-world business environments, candidates will be better equipped to pursue jobs after completing the program.
Details of the Scheme
Finance Minister Nirmala Sitharaman introduced the PM Internship Scheme during her 2024-25 budget speech. The scheme aims to create a large-scale internship program, targeting one crore youth over five years. The goal is to provide internships in the top 500 companies in India, offering youth the opportunity to gain experience across various business sectors.
During the 12-month internship, participants will learn about different industries, develop business acumen, and acquire professional skills to enhance their employability. The program also introduces youth to the practical challenges and opportunities of working in a competitive market.
However, eligibility criteria need to be met. For example, individuals whose parents, spouse, or family members have an annual income exceeding ₹8 lakh will not be eligible for the scheme. Additionally, if a family member is a permanent government employee, the candidate will be excluded from this internship program. This ensures that the scheme targets those who most benefit from the opportunity.
Insurance and Additional Benefits
In addition to the monthly stipend and work experience, the youth selected for the internship will also be provided with insurance coverage under two government schemes: the Pradhan Mantri Jeevan Jyoti Bima Yojana and the Pradhan Mantri Suraksha Bima Yojana. The government will pay the premium for this insurance coverage, offering financial protection to the candidates during their internship.
Additionally, participating companies are encouraged to offer accident insurance to selected candidates, providing further security and peace of mind. This insurance coverage and the financial stipend make the internship program an even more attractive option for young people looking to kickstart their careers.
The PM Internship Scheme is a significant initiative by the central government, aiming to provide valuable work experience and improve the employability of India’s youth. With a focus on practical learning, financial support, and insurance benefits, this program is expected to open doors for countless young people nationwide. As the scheme progresses, it holds the potential to revolutionize the internship landscape, offering youth from all walks of life the chance to learn, grow, and succeed in their chosen career paths.