PM Internship Scheme: A Game Changer?

What is the Scheme About?

  • PM Internship Scheme: Announced in the FY25 budget, it offers 12-month internships for 10 million youth in top companies over five years.
  • Opportunities Available: Over 125,000 internships across 280 companies, catering to different educational levels, including graduates, class 10 pass-outs, and ITI certificate holders.

PM INTERNSHIP SCHEME: A GAME CHANGER?

How Will It Benefit India Inc?

  • Skills Gap: The scheme addresses the issue of unemployability, offering the industry an industry-ready workforce with relevant skills.
  • Reduced Dependence: It reduces reliance on coaching centres and offers high-quality training aligned with industry standards, especially benefiting sectors like manufacturing and IT.

Challenges Ahead

  • Commitment Required: Long-term commitment from government and companies is crucial for success. Continuous training and follow-up placements are needed to avoid unemployment after internships.
  • Attractive Stipend?: The stipend of ₹4,500 per month plus a ₹500 company contribution may be insufficient, considering the higher daily wages in certain sectors.

Role of Schools and Colleges

Early Engagement: Schools and colleges should engage with firms earlier, updating curricula and helping students identify in-demand jobs and strengths to avoid overemphasis on engineering or medical careers in tier II and III cities.

Sources Referred:

PIB, The Hindu, Indian Express, Hindustan Times