The Ministry of Corporate Affairs (MCA) will soon be releasing guidelines for the government’s much awaited internship scheme, CNBC-TV18 reported, citing unnamed sources. HT couldn’t independently verify the information.
The launch of the scheme, which was first announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024, can be as soon as within a week, along with a dedicated internship portal, according to the report.
Large corporate names including the Adani Group, Reliance Industries, and Mahindra have already expressed interest for participating in the scheme, according to the report.
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What are the details of the internship scheme?
The internship scheme was proposed, aiming to address the skills gap and stimulate India’s youth employment, with Sitharaman saying during her budget speech that “this internship initiative will equip our young workforce with practical skills, aligning them with the needs of industry and helping bridge the gap between education and employment.”
The guidelines state that the job roles for interns must be skill-based and not be about menial tasks to ensure that the programme actually contributes meaningfully to skill building, according to the report, which added that the companies can engage the interns at not just their core business, but even across all of their supply chain and group companies.
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What is the eligibility criteria for the internship scheme?
- Interns have to be between ages of 21 and 24, with a family income not going over ₹8 lakh per annum.
- Candidates who are currently pursuing a formal degree or already have a job are not eligible.
- However, candidates enrolled in online courses or vocational training are eligible.
How much can the interns earn from internship programme?
The participating companies will be funding the interns’ training costs using their Corporate Social Responsibility (CSR) budgets, according to the report, which added that the stipend for intern will be split, with ₹500 contributed through CSR funds and ₹4,500 covered by the government.
The government will also be providing a one-time payment of ₹6,000 to each intern, the report read.
What are the details of the upcoming internship portal?
The internship portal, which will be a one-stop solution for both the candidates and participating companies, has a simple form in which, candidates will have to indicate skills and interests.
This will get matched with available roles at participating companies, with the portal even automatically generating CVs for the candidates.
The portal will also get a multi-lingual call center and chat support for assistance.
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