Government Internship Scheme-Portal Opens for Companies and Candidates 

Summary: 

• New government internship scheme launching in October 2024 

• Portal opens for company registration on 3rd October 

• Candidate registration begins mid-October 

• Scheme targets youth aged 21-24 years 

• Top 500 companies to offer internships 

• 12-month internships with financial assistance provided 

• Aims to skill 1 crore youth over 5 years 

• Part of Prime Minister's Package for Employment and Skilling 

The Government of India is set to launch an ambitious new internship scheme in October 2024, aiming to provide valuable work experience and skill development opportunities to the country's youth. This initiative, part of the Prime Minister's Package for Employment and Skilling announced in the Union Budget 2024-25, seeks to bridge the gap between academia and industry by offering internships at top 500 companies across the nation. 

The scheme is designed to benefit one crore youth over a five-year period, providing them with hands-on experience in real-world business environments. It targets individuals aged 21-24 who have completed at least Class 10 education and are not currently engaged in full-time employment. 

A dedicated online portal, developed by the Ministry of Corporate Affairs, will facilitate the implementation of this scheme. Companies will be able to register and post their internship requirements starting from 3rd October 2024. The portal is expected to open for candidate registrations around mid-October, allowing eligible youth to create profiles and apply for internship positions. 

The internship programme offers a 12-month placement, with at least 50% of the time spent in actual working environments. This structure ensures that interns gain practical skills and experience that will enhance their employability in the job market. 

Financial support is a key component of the scheme. Interns will receive a monthly stipend of £5,000, with the government contributing £4,500 through Direct Benefit Transfer (DBT) and the participating companies providing £500 from their Corporate Social Responsibility (CSR) funds. Additionally, a one-time grant of £6,000 will be provided to each intern to cover incidental expenses. 

The selection of participating companies is based on their average CSR expenditure over the past three years. While the scheme primarily targets the top 500 companies, it also allows for flexibility. Companies can partner with entities in their supply chain or other associated organisations to provide internship opportunities. 

To ensure a diverse range of opportunities, the scheme covers various sectors including manufacturing and services. This broad approach aims to cultivate a skilled workforce ready to meet the challenges of different industries. 

The internship scheme also incorporates several eligibility criteria for candidates. While it is open to youth who have completed Class 10 and above, including those from ITIs and Skill Development Centres, it excludes graduates from premier institutions like IITs, IIMs, and IISER, as well as those with professional qualifications such as Chartered Accountancy. The scheme also has income-based restrictions, excluding individuals from families with an annual income exceeding £8 lakh or those with permanent government employees in the family. 

The selection process for interns will be facilitated through the online portal. After candidates register and create their profiles, the system will automatically shortlist applicants based on their qualifications and preferences. Companies will then review these shortlisted candidates and make their final selections. 

Upon completion of the internship, companies will be required to provide a certificate of completion, which will be uploaded to the portal. This certification is expected to significantly boost the career prospects of the interns. 

The government has partnered with industry bodies like the Confederation of Indian Industry (CII) to ensure smooth implementation of the scheme. The CII is working closely with companies to develop action plans for their participation and has conducted industry interactions across the country to promote the initiative. 

This internship scheme represents a significant step towards addressing the skills gap in India's workforce. By providing young people with exposure to professional environments and practical skills, it aims to enhance their employability and contribute to the country's economic growth. 

As the scheme prepares to launch, both companies and eligible candidates are encouraged to stay informed about the registration process and requirements. The success of this initiative will depend on active participation from both the corporate sector and the youth, creating a win-win situation for all stakeholders involved. 

FAQs: 

1. Q: When does the internship portal open for company registration? 

   A: Companies can register and post internship requirements from 3rd October 2024. 

2. Q: When can candidates start registering for internships? 

   A: Candidate registration is expected to begin in mid-October 2024. 

3. Q: Who is eligible for this internship scheme? 

   A: Youth aged 21-24 who have completed at least Class 10 education and are not in full-time employment. 

4. Q: How long do the internships last? 

   A: The internships are for a duration of 12 months. 

5. Q: What financial support do interns receive? 

   A: Interns receive £5,000 monthly (£4,500 from the government and £500 from the company) plus a one-time grant of £6,000. 

6. Q: Can companies outside the top 500 participate in the scheme? 

   A: Yes, other companies can participate with approval from the Ministry of Corporate Affairs. 

7. Q: Is there any obligation for companies to hire interns after the internship? 

   A: No, there is no obligation, but companies have the option to do so if they wish. 

8. Q: How are candidates selected for internships? 

   A: The portal shortlists candidates based on their profiles, and companies then review and select from this shortlist. 

9. Q: What percentage of the internship is spent in actual work environments? 

   A: At least 50% of the internship period must be spent in real work environments. 

10. Q: Is there any insurance coverage for interns? 

    A: Yes, interns are covered under government insurance schemes, with premiums paid by the government. 

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