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The release of PM Internship Scheme has been suspended for now. The scheme was supposed to be launched on December 2 but was postponed. No new date has been set at this time.
“A new date will be announced soon. What we are learning from the pilot process needs to be reviewed now,” said a source familiar with the development, adding that it will be implemented in the coming weeks.
The ambitious scheme, which aims to provide apprenticeship opportunities to 1.25 lakh pilot students for 12 months at top Indian companies Inc, was to be launched today with letters to be issued to the students.
Announced in the Union Budget 2024-25 as part of the Prime Minister’s initiative for careers and skills, the aim is to provide education opportunities to 1 crore students over five years. Its aim is to improve the employability of young people by giving them the opportunity to work in large companies.
During the pilot, a total of 1.27 lakh internship opportunities were posted by companies under the scheme. In contrast, around 6.21 lakh applications have been received.
The door of PM Internship Scheme was opened for the application of the youth from October 12, 2024 to November 15, 2024.
An amount of Rs 2,000 crore was allocated in the Budget for FY 2024-25 of which Rs 6.04 crore was spent till November 20. system. The government will provide a stipend of Rs 6,000 to each candidate once a month and Rs 4,500 per month. The company charges another Rs 500 per month to each person.
The list of top 500 companies is based on their Corporate Social Responsibility (CSR) spending in the last three years and participation is voluntary.
