The Prime Minister’s Internship Scheme (PMIS) is a Ministry of Corporate Affairs programme, announced in the Union Budget 2024-25, that aims to place one crore young people in 12-month paid internships with India’s top 500 companies over five years, with a monthly stipend of Rs 5,000 funded largely by the government and a one-time grant of Rs 6,000.
Context
- The scheme was announced by the Finance Minister on 23 July 2024 as part of the Budget’s employment and skilling package.
- The pilot was launched on 3 October 2024 through the portal pmis.gov.in; the Ministry of Corporate Affairs reported about 6.21 lakh applications against 1.27 lakh opportunities in the first round, and a second round followed in early 2025.
- Participating companies are the top 500 by average CSR spending over the previous three years; their supply-chain partners can also host interns.
What an Intern Gets
- A 12-month internship, at least half of it in a real working environment rather than a classroom.
- Rs 5,000 a month – Rs 4,500 paid by the Central Government by direct benefit transfer and Rs 500 by the company from its CSR funds.
- A one-time grant of Rs 6,000 on joining, for incidental expenses.
- Insurance cover under PM Jeevan Jyoti Bima Yojana and PM Suraksha Bima Yojana, with the premium paid by the government.
- A certificate and practical exposure that improves employability.
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Eligibility
- Age: 21 to 24 years at the time of application.
- Education: Class 10 pass, Class 12, ITI certificate, polytechnic diploma or a graduate degree such as BA, BSc, BCom, BCA, BBA or BPharma.
- Excluded: graduates of IITs, IIMs, IISERs, NIDs, IIITs and national law universities, and holders of CA, CMA, CS, MBBS, BDS, MBA or any master’s degree.
- Status: not in full-time employment or full-time education (online and distance learners may apply).
- Income: family income not above Rs 8 lakh in the previous financial year; no family member in a permanent government job.
How It Works
- Companies post opportunities on the portal; candidates apply for up to a few preferences; selection is by the company with a preference for diversity and under-represented regions.
- The scheme is implemented by the Ministry of Corporate Affairs with a dedicated portal, helpline and state-level facilitation.
- Companies’ contribution counts as CSR expenditure under the Companies Act, 2013.
Why It Matters
Recording outNABARD Grade A 2026: 45-Day Final Revision Plan + Daily TargetsWatch the recording →- It addresses the gap between degrees and job-readiness that surveys such as the PLFS highlight for young graduates.
- It is one of the five Budget 2024-25 schemes for employment and skilling, alongside the Employment Linked Incentive schemes.
Important Facts for Examsmost asked
- Announced in Budget 2024-25; pilot launched 3 October 2024; ministry – Corporate Affairs.
- Target: 1 crore internships in five years in the top 500 companies (ranked by CSR spend).
- Duration 12 months; stipend Rs 5,000 a month (Rs 4,500 government plus Rs 500 CSR); one-time grant Rs 6,000.
- Age 21-24; family income up to Rs 8 lakh; premier-institute graduates and professional degree holders excluded.
- Insurance: PMJJBY and PMSBY, premium paid by the government.
FAQs
Is the internship a guarantee of a job?
No. It is a training and exposure programme; companies may hire interns afterwards, but the scheme promises no job.
Can a final-year student apply?
Only if not in full-time education; students in online or distance programmes are eligible, regular students are not.
Why is the PM Internship Scheme asked in bank exams?
It is a headline Budget 2024-25 employment scheme; the stipend, grant, age band, income limit and the top-500-companies rule are the facts most often tested.
