Govt rolls out internship scheme with Rs 66,000 annual support

Aims to provide 1 crore internship over 5 years

- OUR CORRESPONDENT

NEW DELHI: The Central government launched a ground-breaking internship programme on Thursday, offering substantial financial assistance to young individuals aged 21-24 years. The initiative, announced in the Union Budget 2024, aims to benefit one crore youth over five years and provides total annual support of Rs 66,000 to each participant.

The Prime Minister's Internship Scheme in Top Companies, which begins its pilot phase on December 2, is expected to cover 125,000 candidates in the current financial year ending March 2025.

The pilot project comes T with an estimated cost of Rs 800 crore and includes insurance coverage for all interns.

Under the comprehensive support package, interns will receive monthly financial assistance of Rs 5,000 for one year, along with a one-time grant of Rs 6,000 for incidentals. The government will also provide insurance coverage under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana. Of the monthly stipend, Rs 4,500 will be provided by the government, while participating companies will contribute Rs 500 from their Corporate Social Responsibility (CSR) funds.