Prime Minister Internship Scheme (PMIS)
The PMIS aims to provide internship opportunities to 10 million young people across the top 500 companies over five years. It was announced in the full Budget for 2024-25.
Recent Developments
In the second round of the pilot programme, there was a decline in the acceptance of offers.
- The acceptance rate dropped by 12.4% compared to the first round.
- While 34% of offers were accepted in the first round, only 29% were accepted in the second, despite a slight increase in the number of offers.
Challenges and Responses
- The Ministry of Corporate Affairs (MCA) is promoting the scheme through collaborations with stakeholders, workshops, seminars, and promotional campaigns.
- Challenges include the long duration of internships and a lack of alignment between candidates’ interests and roles offered.
- There were requests to lower the age requirement for applicants from industrial training institutes and polytechnics.
Geographical and Corporate Participation
- Tamil Nadu recorded the highest number of internship opportunities at 15,785.
- Madhya Pradesh had the highest response with 9,330 offers accepted.
- Other significant offers were made in Odisha (7,242) and Uttar Pradesh (7,085).
- Jubilant Foodworks offered the highest number of opportunities, followed by Power Grid Corporation of India and HDFC Bank.
- Over 70 new companies joined the programme in the second round.
Official Statements
Finance Minister clarified that the PM Internship scheme is not designed to provide placements, but companies may issue placement offers based on their workforce requirements.
