The PM Internship Scheme is off to a good start, with offers by companies to train youth surpassing the government's early-December target of 125,000 in just over two weeks of the programme's formal launch, people aware of the details said.Large companies have been posting their internship offers on a government portal, designed to implement the scheme. The portal was launched on October 3, as part of a pilot project under the scheme to enhance employability among young Indians. The scheme, announced by finance minister Nirmala Sitharaman in this year's budget, has a broad target of providing internship opportunities to 10 million young Indians in 500 top companies over five years. The people cited earlier told ET that more than 60,000 candidates-from a much larger pool of internship seekers--have so far submitted their applications, along with relevant documents, for consideration. Internship seekers can apply through the portal between October 12 and 25, according to officials of the corporate affairs ministry, which is implementing the scheme.Once the pilot project is fully rolled out by December, the government will keep expanding it to accommodate more applicants, factoring in learnings from the initial experiences, according to officials. "They will gain exposure for 12 months to real-life business environments, varied professions and employment opportunities," Sitharaman had said while presenting the budget.Most of the large companies, including Reliance Industries, Maruti Suzuki India, HDFC Bank, Tata Consultancy Services, ONGC, Hero Motocorp, State Bank of India, Jubilant Foodworks and Muthoot have joined the voluntary scheme.Some other prominent companies are Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance, Tech Mahindra, Alembic Pharmaceuticals, Max Life Insurance and Eicher Motor, officials had said earlier. Many companies are still uploading offers or revising details. The selected interns will get a monthly allowance of ₹5,000 for one year, apart from a one-time aid of₹6,000. The government will bear ₹54,000 towards monthly allowance on top of the one-time aid, spending a total of ₹60,000 on each intern.The internship scheme is focused on youth aged between 21 and 24 years mainly from poor and lower middle-class households. Caste-based reservations will also apply in the selection of candidates.
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