The centre's new internship scheme to benefit one crore youth at top 500 companies is to launch in the coming days, with companies being able to post requirements in the dedicated portal from Thursday, October 3, according to a Business Today report, which added that the portal will also open up to candidates around October 12.
Companies across India have shown interest in the scheme with the Confederation of Indian Industry (CII) working closely with the Ministry of Corporate Affairs to implement the scheme, according to the report, which added that the eligibility for the companies is based on the average corporate social responsibility (CSR) spending over the last three years.
The scheme was first announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024 on July 23 as part of the Prime Minister’s package on employment and skilling.
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Who can apply for the new internship scheme?
The scheme focuses on youth between the age of 21 and 24 years, who have passed Class 10 and are not engaged in fulltime employment.
{{/usCountry}}The scheme focuses on youth between the age of 21 and 24 years, who have passed Class 10 and are not engaged in fulltime employment.
{{/usCountry}}Candidates passing out of IITs, IIMs, IISER or with professional degrees such as chartered accountants or cost accountants can't apply.
Similarly, the scheme also excludes individuals from families with government jobs or with families who have an income of ₹8 lakh per annum or are assessed for income tax.
How to apply for the new internship scheme?
Candidates can register to create profiles on the internship portal through an Aadhaar-based e-KYC process and also submit a self-declaration confirming their eligibility.
The portal automatically shortlists two times the number of vacancies available for each internship position based on the candidates' profiles, preferences, and eligibility.
After this, the participating companies will review the list and select candidates from the shortlist, sending them an offer letter.
How will the internship itself be like?
The scheme says at least 50% of the training will be in an actual working environment for the intern to get hands-on working experience, with the remaining in a classroom.
After the 12 month internship gets completed, the company will upload a certificate of completion on the portal.
However, there is no obligation on the part of the companies to give a job after the internship, but that option is still there at their discretion.
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