This program is part of the government’s broader effort to boost youth employment and align skill development with corporate needs, a key highlight of the Union Budget 2024.
Sources revealed that major corporate players such as Reliance Industries, Adani Group and Mahindra have expressed interest in participating in the scheme.
Eligibility criteria
The internship program initially announced in the Union Budget 2024 lays down specific eligibility criteria for candidates.
Interns must be between 21 and 24 years of age and have a household income not exceeding 8 lakh annually.
Additionally, candidates who are currently pursuing a formal degree or who have a job will not be eligible. However, those enrolled in online courses or vocational training will qualify.
To ensure that the program contributes to significant skills development, the guidelines state that interns’ job roles should be skills-based, ruling out menial tasks.
Structure and costs
The financial structure of the program ensures that corporate participation is key.
Under the plan, companies will be able to finance the training costs of interns through their Corporate Social Responsibility (CSR) budgets.
The stipend for each intern will be split, with ₹500 brought in by corporate CSR funds and ₹4,500 covered by the government, offering candidates a total of ₹5,000 per month. Additionally, the government will provide a one-time payment of ₹6,000 to each intern.
A unique feature is that companies can hire interns not only within their core business but also across their supply chain and group companies. However, internship certification must come from the parent company, ensuring credibility and uniformity.
About the internship portal
A key element of the initiative is the Internship Portal, which will serve as a one-stop solution for both candidates and companies.
Candidates will need to complete a simple form, indicating their skills and interests.
The portal will then match these skills with available positions at participating companies, automatically generating CVs for candidates.
To ensure smooth navigation, especially for those with diverse linguistic backgrounds, the portal will offer a multilingual call center and chat support. This feature is intended to help candidates use the platform effectively and complete the necessary forms.
The scheme was proposed with the objective of addressing the skill gap and boosting youth employment in India.
As Finance Minister Nirmala Sitharaman stated during the 2024 budget presentation: “This internship initiative will equip our young workforce with practical skills, aligning them with industry needs and helping to bridge the gap between education and employment ”.
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