PM Internship Scheme: Can it Really Solve Youth’s Employability Challenge?

Group Discussion (GD) is an important part of MBA Admissions process. Type of Group Discussion Topics for MBA include Abstract GD Topics, Business & Economy GD topics, Current Affairs GD topics, and GD Topics on Social and International Issues. PM Internship Scheme 2024 is an important and current GD Topic that all MBA aspirants must prepare for. MBAUniverse.com presents important points for your benefit. 

What is PM Internship Scheme?
The scheme aims to provide students with internship opportunities to address youth unemployment. It seeks to provide internships to 1 crore young people over the next five years. Opened on Oct 14, 2024, the Prime Minister Internship Scheme portal registered 1,55,109 candidates within 24 hours! About 200 companies have posted internship opportunities on the platform, including Maruti Suzuki India, Larsen & Toubro and Reliance Industries. 

Who is eligible for PM Internship Scheme?

To be eligible, candidates should be:

• Indian Citizen, between 21 to 24 years old 
• Must complete high school education and obtained a certificate from an ITI 
• Or a diploma from a Polytechnic Institute, 
• Or a degree such as BA, BSc, BCom, BCA, BBA, or BPharma.
• Should not work in a full-time job 
• Should not study full-time in a school or college. 
• However, candidates can apply if they are enrolled in online or distance learning courses.

PM Internship Scheme Application Process Open on pminternship.mca.gov.in
The Prime Minister’s Internship Scheme has started registration process on October 14, 2024. The portal is open for 1 crore youth of India. Candidates who meet the eligibility requirements of a company can apply online through the official portal — pminternship.mca.gov.in.

“The portal is open for youth registration and profile creation from 5 pm today. After you register and create your profile, you will be notified of the Internship opportunities on your registered email/mobile number. The option to choose from internship opportunities will be made available thereafter,” said the official PM Internship Scheme website.

How to apply for PM Internship Scheme?.

Here are the simple steps to apply for this scheme 
Step 1: Visit the official website — pminternship.mca.gov.in.
Step 2: On the homepage, check a “register” option. Click the link and go to a new page.
Step 3: Fill in the registration details and submit required documents
Step 4: Press “submit” button after completing application. 

After submission, based on details shared by the candidate, a resume document will be generated. Candidate can apply to at least five opportunities based on his or her preferences. Remember that there is no registration or application fee. 

PM Internship Scheme Benefits for Students: Stipend Details 

Apart from gaining invaluable experience, candidate who do internship through PM Internship Scheme will get following monetary benefits: 

• As an “intern”, a successful candidate will receive a monthly stipend of Rs 5,000 for a period of 12-month internship. This stipend is funded by the company’s CSR funds and Government of India. 
• In addition to the monthly stipend, candidate who will do internship will also get a one-time financial support of Rs 6,000 to meet any incidental expenses.
• Furthermore, the Interns will get free insurance through PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.

PM Internship Scheme Aims to Solve Youth Unemployability Challenge 
The scheme, announced in this year's budget by Finance Minister Nirmala Sitharaman, aims to address youth unemployment by connecting young people with companies seeking talent.

According to the Economic Survey 2023-24, 65% of India’s population is under the age of 35, and many lack the skills required in a modern economy. It noted that only about 51.25% of the country’s youth is deemed as employable. 

According to experts, industry-academia gap with insufficient skill curriculum, low coverage of apprenticeship programmes, , unorganised sector employment with low productivity but no premium for skilling, non-inclusion of entrepreneurship in formal education system, and lack of mentorship are some of the reasons for low employability.

It remains to be seen how much can the PM Internship Scheme solve youth’s employability challenge. 

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