AI likely to draw up initial list for internship scheme in October

The Ministry of Corporate Affairs (MCA) is likely to open the internship scheme for applicants in mid-October, according to people in the know. The first round of shortlisting of candidates will be conducted using artificial intelligence (AI), they said.

Following this, a “neutral panel” consisting of both government and industry representatives will select a pool of applicants that the companies can then choose from, sources said.

“Whether we need to have one or multiple panels is still to be decided given the volume of applications that the scheme may attract,” the source said.

The MCA is finalising the list of top 500 firms based on their average Corporate Social Responsibility (CSR) spending over the past three years. Participation in the scheme is voluntary for companies. The internship scheme, announced by Union Finance Minister Nirmala Sitharaman in her Budget speech in July, is part of the government’s broader job-creation agenda.          

The MCA is expected to launch a portal for the scheme, which has been made part of CSR activity by the end of September.

The ministry did not respond to an email query until the time of going to press.

Once companies populate the portal with internship opportunities, the scheme will be opened for applicants. Candidates who are ineligible, such as chartered accountants, certified management accountants, Indian Institute of Technology or Indian Institute of Management graduates, or those with family members in government or subject to Income Tax, will be filtered out.

Companies, sources said, will not have direct access to candidates. Once the candidates have applied for these internships, an MCA panel will select and forward the applications to the companies -- two for every single position.  The companies can then select or reject the candidates based on their requirement, sources said.

The government aims to skill 10 million youth in India’s top companies over five years through the internship scheme. The 12-month internships will expose participants to real-world business environments and various professional opportunities. The Centre will provide a monthly internship allowance of Rs 5,000 along with a one-time assistance of Rs 6,000.

Companies are expected to bear the training expenses and 10 per cent of the internship cost through their CSR funds.

Addressing job woes
 

> A ‘neutral panel’ to select a pool of applicants after AI-based shortlisting

> CAs, IIT/IIM graduates not eligible for scheme

> MCA finalising list of top 500 companies based on CSR spend  

> A portal for the scheme may come up by Sep-end