CNBC-TV18 had earlier reported that the scheme registered over 1.5 lakh candidates within just 24 hours of its launch on October 12. The government was targeting 1.25 lakh internship opportunities for the current fiscal year.
The scheme, rolled out by the Ministry of Corporate Affairs (MCA), intends to address youth unemployment by linking young people with top companies seeking talent. The government had set a budget of ₹800 crore for this pilot project. The scheme will provide an opportunity to do an internship in the top 500 companies in India for 12 months, with an allowance of ₹5000 per month and ₹6000 as a one-time grant.
“This internship initiative will equip our young workforce with practical skills, aligning them with the needs of industry and helping bridge the gap between education and employment,” Finance Minister Nirmala Sitharaman said during her budget presentation.
The scheme was open to candidates aged 21–24 from families earning less than ₹8 lakh annually and cannot be enrolled in a formal degree programme or hold a job. However, those pursuing online courses or vocational training were eligible for registration.
Also Read: PM Internship Scheme: CII’s Aditya Ghosh urges India’s youth to make the most of the program
(Edited by : Ajay Vaishnav)
