Prime Minister Internship Scheme (PMIS)

✦Key Features

• 12-month internships in top 500 companies (selected by 3-year average CSR spend)
• Stipend: ₹5,000/month (₹4,500 govt + ₹500 company) + ₹6,000 one-time incidentals
• Insurance cover: PM Jeevan Jyoti Bima Yojana + PM Suraksha Bima Yojana
• Eligibility: Indians aged 21-24, not full-time employed/studying, family income <₹8 lakh/year
• Digital platform: pminternship.mca.gov.in for end-to-end management
• Sectors: IT, Banking, Oil & Gas, FMCG, Telecom, Infrastructure, Pharma, Auto, Agriculture
• Target: 1 crore internships over 5 years; Pilot FY2024-25: 1.25 lakh internships

✓Eligibility Criteria

• Candidates must be Indian nationals aged between 21 and 24 years at the time of application.
• Applicants should have passed High School or Higher Secondary school or possess a degree/diploma from a recognized institute.
• The annual income of the applicant's family must not exceed ₹8 lakhs for the current financial year.
• Candidates who are currently in full-time employment or have graduated from premier institutes like IITs, IIMs, or IISERs are not eligible.

★Benefits

• A monthly stipend of ₹5,000 provided for the entire 12-month duration of the internship.
• A one-time grant of ₹6,000 provided to the intern to cover incidental expenses at the start of the program.
• Direct exposure to real-life business environments and hands-on training in leading corporate entities.
• Insurance coverage provided for the intern under the Pradhan Mantri Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana.
• A certificate of completion that significantly enhances the intern's employability in the private sector.

▶Application Process

• Register on the central PM Internship Scheme portal using a mobile number and email ID.
• Complete the profile by providing educational qualifications, skills, and areas of interest.
• Browse and apply for specific internship positions offered by the top 500 partner companies.
• An automated shortlist is generated based on candidate preferences and company requirements.
• The partner company conducts the final selection and issues an offer letter through the portal.

₹ Budget Allocation

2000

Funding Ratio (Centre:State): Stipend: Rs 4,500 (Govt) + Rs 500 (Company CSR); One-time grant of Rs 6,000 (Govt)

Historical Context

Announced in the Union Budget 2024-25 as part of the Prime Minister's Employment-Linked Incentive (ELI) package to boost youth employment.