PM Internship Scheme: Boosting Youth Employability Through Real-World Exposure

Finance Minister Nirmala Sitharaman clarifies the PM Internship Scheme aimed at providing exposure and skills to prepare youth for the job market, not direct employment. The scheme targets internships in top firms, offering allowances, and involves company CSR contributions. Continued expansion is anticipated with rising company participation.

Finance Minister Nirmala Sitharaman addressed the Rajya Sabha, clarifying the objectives of the Prime Minister Internship Scheme. Contrary to offering direct employment, she stated the initiative's core goal is to equip young individuals with market-ready skills through exposure and internships, fostering job readiness.

During the inquiry session, Sitharaman highlighted the federal strategy, which targets internships in 500 top companies for up to 1 crore youth over five years. Youth participants will gain 12 months of real-world business experience, receiving a monthly stipend and training support. Companies are expected to contribute to training expenses using CSR funds.

Despite logistical challenges in some regions, Sitharaman elaborated on the evolving nature of the scheme. Notable company participation has grown, with many offering accommodations and additional perks to interns. Responding to a surge in corporate engagement, the second phase of the program commenced in January, reflecting robust growth since its July budget announcement.

(With inputs from agencies.)