Nirmala Sitharaman launches PM Internship Scheme: 1 crore paid internships for youth in top companies

New Delhi: Finance Minister Nirmala Sitharaman launched the Prime Minister’s Internship Scheme (PMIS) on October 3, 2024, as a flagship initiative under the Union Budget 2024-25, aiming to provide one crore (10 million) paid internships to Indian youth over five years through the country’s top 500 companies. The scheme, administered by the Ministry of Corporate Affairs, is designed to enhance youth employability, bridge the skill gap, and align with national missions like Skill India and Make in India.

Structure and Eligibility

The PMIS offers 12-month internships with six months of hands-on training to candidates aged 21–24 years who are Indian nationals, not in full-time employment or education, and have completed at least secondary education (10th) or vocational training. The scheme excludes graduates from elite institutions such as IITs, IIMs, NLU, IISER, NID, and IIITs, as well as professionals with CA, MBA, or PhD degrees, to prioritise inclusivity for underrepresented youth.

Financial Benefits and Support

Interns receive a monthly stipend of ₹5,000, with ₹4,500 funded by the government via Direct Benefit Transfer (DBT) and ₹500 contributed by companies through Corporate Social Responsibility (CSR) funds. A one-time joining grant of ₹6,000 is also provided, along with insurance coverage under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.

Application and Digital Access

Applications are processed through the official portal pminternship.mca.gov.in and a dedicated mobile app, featuring Aadhaar-based face authentication and real-time tracking. The Phase 2 application window closed on April 22, 2025, with over 1.25 lakh internships filled in the pilot phase. The 24/7 helpline 1800116090 supports applicants nationwide.

Here is the link to the app: PM Internship Scheme

Industry Participation and Sectors

The scheme spans 24 sectors, including banking, energy, automotive, IT, healthcare, aviation, and FMCG, with participation from major firms like Maruti Suzuki, Reliance Industries, Larsen & Toubro, Eicher Motors, and Jubilant Foodworks. Over 90,849 internship opportunities were posted by 193 companies within days of the portal’s launch on October 12, 2024, with placements available across 737 districts in all 36 states and Union Territories.

Pilot Launch and Future Outlook

The pilot project, costing approximately ₹800 crore, officially commenced on December 2, 2024, targeting 1.25 lakh interns by March 2025. The government allocated ₹2,000 crore for the scheme in FY 2024-25, positioning it as a cornerstone of India’s strategy to become the “Skill Capital of the World” and achieve Viksit Bharat by 2047.