MCA may widen internship scheme, engage states to boost participation

Readying for the roll out of the second tranche of internships under the PM internship programme, the Ministry of Corporate Affairs (MCA) is likely to reach out to state governments to engage with applicants to increase participation.

 

According to a source, around 280 companies are in the process of being inducted into the scheme. They will identify internship opportunities available across districts.

 

The Prime Minister Internship Scheme, currently in its pilot stage, has seen less than 100,000 internship offers given out of 127,000 opportunities posted by companies in the first phase.

 

Data for the number of offers availed by applicants was not available, but sources said the government is likely to take steps to widen the reach of the programme and make it more attractive.

 

The scheme had set a target of providing 125,000 opportunities by the end of March 2025.  

 

In order to attract more applicants, the government is considering tweaks such as increasing the age limit and relaxing the educational qualifications, according to people in the know.

 

The changes will be made based on the learning from the pilot programme, after which the MCA will get Cabinet approval for full-fledged roll out of the scheme.

 

Top 500 companies based on their average corporate social responsibility (CSR) spend for the last three years would be taking part in the scheme.

 

“Most of these companies are now becoming part of the internship programme. We are working with them to make a plan for internships that can be offered,” the source said. 

 

Roll out of the second tranche — when the next set of interns would join companies — is expected to start in February.

 

Candidates would be able to browse internships based on their preferred sectors, roles, locations and apply for up to five opportunities.

 

The government aims to skill 10 million youths in India’s top companies in five years through the internship scheme.

 

The youth will gain exposure for 12 months to real-life business environments, varied professions and employment opportunities.

 

The MCA would provide direct benefit transfer of Rs 6,000 to the intern on joining and a cover under the PM Jeevan Jyoti Bima and PM Surakha Yojana.

 

A financial assistance of Rs 5,000 per month would also be provided to the intern of which Rs 4,500 would be disbursed by the government and Rs 500 be paid by the company from its CSR funds.

 

Companies can provide assistance over and above Rs 500 if they wish to do so from its own funds.

 

The internship scheme was announced by Finance Minister Nirmala Sitharaman as part of the government job-push agenda in her Budget speech on July 23, 2024.