Daily Current Affairs : 4-October-2024

The authorities lately launched the pilot segment of the Prime Minister’s Internship Scheme (PMIS) for the economic yr 2024-25. This initiative is designed to provide younger humans with the opportunity to gain valuable work experience, aiming to boost their employability and skill development. The scheme is a part of the larger Prime Minister’s Package for Employment and Skilling, announced within the Union Budget 2024-25.

Key Features of the PM Internship Scheme

Objective and Goal

The main objective of the PM Internship Scheme is to assist young people gain realistic, hands-on experience in top companies. The government targets to provide 1.25 lakh internships within the first 12 months, with the final goal of offering 1 crore internships over 5 years. These internships will be available in the top 500 businesses across numerous industries.

Eligibility Criteria

The scheme is specifically for youth between the ages of 21-24 who are neither employed full-time nor engaged in education. The candidates should have qualifications like high school diplomas, ITI certificates, or undergraduate degrees (such as B.A., B.Sc., B.Com.). Candidates with advanced degrees like MBA, CA, or those from prestigious institutes such as IITs and IIMs are not eligible for this scheme.

Internship Details

Interns will be offered 12-month internships with a monthly stipend of ₹5,000. Of this, ₹4,500 will be funded by the government, and the remaining ₹500 will be contributed by the respective companies. Additionally, interns will receive benefits like:

  • Insurance coverage under government schemes, including PM Jeevan Jyoti Bima Yojana.
  • A one-time grant of ₹6,000 to cover incidental expenses.
  • Access to a multilingual helpline for support and a grievance redressal system.

Significance of the Scheme

The PM Internship Scheme plays a crucial role in enhancing the employability of India’s youth by providing them with essential work experience in real-world job environments. By offering internships across various sectors such as pharma, auto, and agriculture, the scheme aims to improve skill development and prepare young people for future job opportunities.

Additionally, the scheme aligns with the government’s vision of a self-reliant India (Atmanirbhar Bharat) by ensuring the development of a skilled workforce, which is essential for driving economic growth and innovation.

Important Points:

Launch and Objective:

  • Pilot phase of the Prime Minister’s Internship Scheme (PMIS) launched for fiscal year 2024-25.
  • Aims to enhance youth employability and skill development through internships in top companies.

Key Goals:

  • Provide 1.25 lakh internships in the first year.
  • Ultimate goal of offering 1 crore internships over five years across the top 500 companies.

Eligibility Criteria:

  • Youth aged 21-24 who are not employed full-time or in education.
  • Must hold high school diplomas, ITI certificates, or undergraduate degrees (B.A., B.Sc., B.Com.).
  • Excludes those with advanced degrees (MBA, CA) or from prestigious institutions (IITs, IIMs).

Internship Details:

  • 12-month internships with a monthly stipend of ₹5,000.
  • ₹4,500 funded by the government, ₹500 by the companies.
  • Additional benefits include insurance coverage (PM Jeevan Jyoti Bima Yojana), a ₹6,000 one-time grant, and access to a multilingual helpline.

Significance:

  • Improves employability and provides practical work experience across industries such as pharma, auto, and agriculture.
  • Supports the Atmanirbhar Bharat initiative by developing a skilled workforce for India’s economic growth.

Why In News

The government launched the pilot phase of the ambitious Prime Minister’s Internship Scheme, which aims to provide 1.25 lakh internship opportunities during the fiscal year 2024-25, marking a significant step towards enhancing youth employability and skill development across various sectors.

MCQs about Prime Minister’s Internship Scheme:Enhancing Youth Employability

  1. What is the primary goal of the Prime Minister’s Internship Scheme (PMIS)?
    A. To provide financial assistance to youth in India
    B. To offer internship opportunities to youth to enhance employability and skill development
    C. To offer educational scholarships for higher studies
    D. To promote entrepreneurship among youth
  2. What is the eligibility age for applicants of the Prime Minister’s Internship Scheme?
    A. 18-22 years
    B. 21-24 years
    C. 25-30 years
    D. 16-18 years
  3. How much stipend will interns receive under the Prime Minister’s Internship Scheme?
    A. ₹2,000 per month
    B. ₹5,000 per month
    C. ₹10,000 per month
    D. ₹7,500 per month
  4. Which of the following is NOT eligible for the Prime Minister’s Internship Scheme?
    A. A graduate with a B.A. degree
    B. A youth aged 23 with a high school diploma
    C. An individual holding an MBA degree
    D. A person with an ITI certificate

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