The Ministry of Corporate Affairs on Thursday confirmed that close to one lakh candidates are likely to reach the workshop under the PM Intership program by December 2 this year. The registration website www.pminternship.mca.gov.in has already been launched but it will be open to candidates on October 12.
Ministry sources said that two companies: Mahindra & Mahindra and Max Life Insurance have already secured 1,077 positions as of Thursday morning. In total, the government plans to create 1 crore internships for unemployed Indian youth over the next five years.
The pilot project of this programme, which has a government budget outlay of Rs 800 million, was launched today.
“The core of the project concluded on September 30. From October 3 to 10, companies will complete their details on the website. On October 12, the portal will open for young people to register. Candidates will be shortlisted between October 27 and November 7. The offers will be launched between November 8 and 15. Candidates will receive 3 offers to choose from. The internship will begin from December 2 and will have a fixed duration of 12 months,” sources said.
So far, 111 companies have come on board to partner with the government on the plan.
Of those who have applied, 44 per cent are looking for graduates, 13 per cent are looking for postgraduate degrees, 11 per cent require a class XII pass, 3 per cent are looking for candidates with diploma or grade X qualification, 1 per cent require a class VIII pass, while 20 percent percent seek others.
The companies that have shown the most interest are the agricultural, automobile and pharmaceutical industries.
According to the MCA, a cabinet note will be published based on what was learned during the pilot. Students will be covered by a life insurance policy, but will not have any “employment” related benefits as it is an internship program. Candidates will be located based on their district PIN code as an out-of-state move.
The government will make a one-time payment of Rs 600 to the candidate and for the rest of the year, companies will contribute Rs 500 towards the salary of Rs 5,000, while the government will deposit Rs 4,500 in the account. For now, the government has welcomed top 500 companies to participate in the scheme.
The pilot project will be offered to at least 1.25 lakh candidates within FY25.
Talking about eligibility, MCA sources said, they must be between 21 and 24 years of age and their qualifications can be secondary school, higher secondary school, ITI or diploma holders. Graduates are also welcome. Students from elite higher education institutions such as IIT IIM, National Law University, etc. They are not eligible.
If the candidate comes from a family with a basic income above Rs 8 lakh, he will also be eligible. Additionally, the family cannot have a government employee. A toll-free number has been set up for clarifications and queries: 1800-116-090.
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