The ‘Prime Minister’s Internship Scheme’, which was launched by the central government with the aim of providing practical experience to the youth before employment, has undergone significant changes. These changes have made the scheme more attractive and students will get more financial assistance.
Huge increase in stipend amount
According to the latest amendments, the monthly stipend given to candidates doing internship under this scheme has been increased from ₹5,000 to ₹9,000. Notably, 90% of this amount will be borne by the central government. Along with this, a total financial assistance of ₹6,000 will also be given to the interns in two installments. Due to this decision, students will be able to focus on their training without any financial hardship.
Change in eligibility criteria
In order to ensure that the benefits of the scheme reach more youth, the age limit has also been changed:
Age limit: The earlier limit of 21 to 24 years has now been extended to 18 to 25 years.
Opportunity for students: Final year undergraduate and postgraduate students have also been allowed to do internships.
NOC mandatory: To ensure that their studies are not disrupted, students are required to submit a No Objection Letter (NOC) from their college or university.
Training in future fields
This scheme has been designed in line with the goals of the National Education Policy (NEP). It is helpful in getting hands-on experience of industries, not just book knowledge.
Key areas: Students will get opportunities in emerging sectors like semiconductors, renewable energy, and Global Capability Centers (GCC).
Overall, this decision of the central government is a major step towards bridging the gap between education and employment. It will play a significant role in preparing the youth for the global job market.