Third pilot of PM Internship Scheme likely this month, full scheme may be rolled out from April

The third round of the pilot of the Prime Minister Internship Scheme is likely to be launched later this month and the full roll out of the scheme is expected in April or May.

According to sources, fresh tweaks are also being planned in the scheme based on industry inputs to ensure better interest from candidates. While the number of companies that are eligible for the scheme is likely to be expanded, the age criterion for candidates is also likely to be relaxed.

“The Ministry of Corporate Affairs has been in talks with industry representatives to get feedback on the scheme and how it can be improved. That was one of the key objectives of the pilot schemes. Now that two rounds have been completed, the third pilot is likely to include these changes. The full scheme could be rolled out in April based on the learnings from all three pilots,” said a person familiar with the development.

Announced in Union Budget 2024-25, the PM Internship Scheme aims to place 10 million candidates over a five-year period in top 500 companies. This list could be expanded to include more companies, the source said.

The scheme aims to provide each candidate between the ages of 21 and 24 years of age a 12-month internship to get on-ground industry experience and knowledge. The government pays each candidate a stipend of Rs 4,500 per month and the company also pays Rs 500 per month to each candidate.

But despite earnest efforts, the scheme has so far failed to garner much interest from candidates due to a variety of reasons from low stipends to living away from home.

As per official data, in the first round of the PMIS pilot, partner companies posted over 1.27 lakh internship opportunities for which more than 6.21 lakh applications were received from about 181,000 candidates. In all, partner companies made over 82,000 internship offers to over 60,000 candidates, of which more than 28,000 were accepted.

In the second round, partner companies posted over 118,000 internship opportunities and received over 455,000 applications from over 214,000 applicants. Companies made over 83,000 offers and over 24,600 were accepted.