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PM Internship Scheme: FM Sitharaman Launches Mobile App to Simplify Access

Written by: Team Angel OneUpdated on: Mar 18, 2025, 2:22 PM IST
FM Nirmala Sitharaman launched the PM Internship Scheme app to simplify access to internships, boost industry participation, and support youth employability.
PM Internship Scheme: FM Sitharaman Launches Mobile App to Simplify Access
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Union Finance Minister Nirmala Sitharaman launched a mobile application for the Pradhan Mantri Internship Scheme (PMIS) in New Delhi on Monday. The app is designed to streamline access to internships and simplify the application process. It features Aadhaar-based face authentication for registration, personalised dashboards, and real-time notifications.

PM Internship Scheme Overview

The PM Internship Scheme was introduced in the Union Budget 2024-25 with the objective of providing internships to 10 million youth in the top 500 companies over 5 years. A pilot project for the scheme was launched in October 2024, offering 1.25 lakh internship opportunities. The initiative will help improve employability by offering practical experience across various industries.

Pilot Project and Participation

In the first phase of the pilot project, 1.27 lakh internships were listed across 745 districts by 280 companies across 25 sectors. Over 82,000 candidates secured internships. The second phase, which began in January 2025, saw 327 companies post over 1.18 lakh opportunities.

The application window for this phase remains open until the end of March 2025.

PM Internship Eligibility and Benefits

To apply, candidates must be between 21-24 years old and have completed at least Grade 10 and 12, an undergraduate degree, or a technical diploma. Interns under PMIS receive a ₹5,000 monthly stipend, a one-time grant of ₹6,000 for incidental expenses, and insurance coverage under Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana.

PM Internship Industry Involvement 

The Ministry of Corporate Affairs is working on expanding company participation beyond the top 500 firms, considering corporate social responsibility (CSR) spending as a criterion. About 49 companies outside this list have already expressed interest. A facilitation centre for the scheme will be set up in Kolkata in collaboration with the Confederation of Indian Industry (CII).

Conclusion 

The registration deadline for the current phase has been extended to March 31, with selected candidates expected to begin their internships by May 15. The app is intended to improve accessibility and make it easier for candidates to track their applications.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Mar 18, 2025, 2:22 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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