PM Internship Scheme 2024: Bridging Skills and Opportunities

Introduction

The PM Internship Scheme, introduced in the 2024-25 union budget, is currently in its pilot stage and is poised for significant changes prior to its official rollout. This initiative aims to provide vital internship opportunities that enhance skill development and boost employability among the youth.

Scheme Features

• Monthly Stipend: ₹5,000.
• One-time Joining Payment: ₹6,000.
• The scheme primarily targets disadvantaged segments of society.
• Eligibility excludes families earning above ₹8 lakh per annum or who have permanent government employees.

Eligibility Criteria

The scheme is available to students pursuing degrees in fields such as medicine, technology, law, or management. Its objective is to align academic learning with practical professional exposure, ensuring that students gain relevant experience.

Targets and Financial Allocations

• Target: 10 million internship opportunities over five years, translating to 2 million annually.
• Budget: A sum of ₹2,000 crore has been allocated for the pilot phase, with plans for increased allocations in upcoming budgets for FY26.

Pilot Project Outcomes

The pilot project was launched on October 3, attracting 621,000 applications against just 127,000 available opportunities. This significant interest highlights the demand for such initiatives.

Stakeholder Involvement

The Confederation of Indian Industry (CII) is actively participating in the scheme, facilitating connections between applicants and available opportunities, thereby bridging existing gaps in the internship market.

Next Steps

• Refinement of stipend amounts and eligibility criteria is underway.
• Once fine-tuned, the scheme will seek Cabinet approval for implementation.

Analysis

• Strengths: The scheme promotes skill development and employability among the youth, while its focus on disadvantaged groups enhances social equity.
• Challenges: The monthly stipend of ₹5,000 may not be sufficient to attract broad participation. The pilot's high demand indicates a significant need for expansion and improved outreach to ensure equitable access to internships in both rural and urban areas.
• Opportunities: A well-structured scheme can effectively integrate internships into academic frameworks, enhancing learning outcomes. Increased budget allocations can further scale up the initiative.
• Recommendations: Raising the stipend will likely attract more candidates, particularly from economically weaker sections. Additionally, introducing digital tools can facilitate better tracking and matching of applicants with available opportunities. Regular feedback from participants and industries can enhance the design and effectiveness of the program.

Frequently Asked Questions (FAQs)

Q1. What is the PM Internship Scheme?
Answer: The PM Internship Scheme aims to provide internship opportunities to enhance skill development and employability for students, especially from disadvantaged backgrounds.

Q2. Who is eligible for the PM Internship Scheme?
Answer: Eligibility is open to students pursuing degrees in fields such as medicine, technology, law, or management, with income restrictions in place.

Q3. What is the budget allocation for the PM Internship Scheme?
Answer: The pilot phase has a budget allocation of ₹2,000 crore, with plans for increased funding in future budgets to expand the program.

Q4. How many internship opportunities are targeted by the scheme?
Answer: The scheme targets the creation of 10 million internship opportunities over five years, averaging 2 million annually.

Q5. What are the strengths of the PM Internship Scheme?
Answer: The scheme promotes skill development and employability for youth while focusing on social equity by targeting disadvantaged sections of society.

UPSC Practice MCQs

Question 1: What is the primary focus of the PM Internship Scheme?
A) Financial assistance for students
B) Skill development and employability
C) Job placements for graduates
D) Government job training
Correct Answer: B

Question 2: How much is the monthly stipend under the PM Internship Scheme?
A) ₹3,000
B) ₹4,000
C) ₹5,000
D) ₹6,000
Correct Answer: C

Question 3: Who collaborates with the PM Internship Scheme to bridge gaps in opportunities?
A) National Skill Development Corporation
B) Confederation of Indian Industry (CII)
C) All India Council for Technical Education
D) Ministry of Education
Correct Answer: B

Question 4: What is the total budget allocated for the PM Internship Scheme's pilot phase?
A) ₹1,000 crore
B) ₹2,000 crore
C) ₹5,000 crore
D) ₹10,000 crore
Correct Answer: B