Introduction
In a strategic move to enhance youth employment and bridge the skill gap in India, the Ministry of Corporate Affairs (MCA) is planning to expand the Prime Minister’s Internship Scheme (PMIS) beyond its current scope. Initially targeting the top 500 companies based on their Corporate Social Responsibility (CSR) expenditure, the scheme aims to include a broader range of firms to provide internship opportunities to a larger number of youth across the country.
Background of the PM Internship Scheme
Launched in the 2024-25 Union Budget, the PMIS is a flagship initiative designed to offer internship opportunities to 1 crore (10 million) youth over five years. The scheme focuses on bridging the gap between academic learning and industry requirements by offering internships across diverse sectors such as technology, manufacturing, finance, retail, healthcare, and more. Each intern receives a monthly stipend of ₹5,000 for 12 months, along with a one-time grant of ₹6,000. The top 500 companies, identified based on their average CSR spend over the last three years, were initially selected to participate in the scheme.
Expansion Plans Beyond Top 500 Companies
To scale up the scheme and increase its reach, the MCA is engaging with industry stakeholders to discuss how to include companies beyond the top 500 in the PMIS. The goal is to expand the scheme to accommodate approximately 15 lakh (1.5 million) internship opportunities, provided there is adequate interest from both youth and companies. This expansion aims to involve more firms across various sectors, including small and medium enterprises (SMEs), to provide diverse internship experiences to the youth.
Inclusion of Central Public Sector Enterprises (CPSEs)
In line with the expansion efforts, the government has revised the CSR guidelines for CPSEs for the fiscal year 2024-25. The PMIS has been included as a common theme for CSR activities, alongside existing priorities like health and nutrition. As per the revised guidelines, CPSEs are required to allocate 60% of their CSR funds towards these themes, thereby directing a significant portion of their CSR spending towards supporting the PMIS. This move is expected to further increase the number of internship opportunities available to the youth.
Enhancements to the PMIS Platform
To facilitate the expanded reach of the PMIS, the MCA has launched a dedicated, user-friendly portal that serves as a centralized hub connecting companies and aspiring interns. The portal offers features such as easy registration through Aadhaar face authentication, a personalized dashboard, access to a dedicated support team, and real-time alerts to keep candidates informed about new updates. Additionally, the portal is available in multiple languages to ensure accessibility for a diverse range of applicants.
Industry Participation and Support
The Confederation of Indian Industry (CII) has been actively collaborating with the MCA to roll out the PMIS. CII is working closely with companies to develop action plans for their participation in the scheme and to ensure effective implementation. The involvement of industry bodies like CII is crucial in mobilizing companies to offer internship opportunities and in aligning the scheme with industry needs.
Conclusion
The expansion of the Prime Minister’s Internship Scheme beyond the top 500 companies is a significant step towards enhancing youth employability and aligning academic learning with industry requirements. By involving a broader range of companies, including SMEs and CPSEs, the scheme aims to provide diverse internship experiences to the youth, thereby equipping them with the skills and exposure needed to succeed in the competitive job market. The government’s efforts to scale up the scheme reflect its commitment to fostering a skilled and employable workforce, contributing to the nation’s economic growth and development.
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