The Government will launch a comprehensive scheme for providing internship opportunities in top companies. This will be the 5^th scheme under the Prime Minister’s package.

While presenting the Union Budget 2024-25 in Parliament today, the Union Finance Minister, Smt. Nirmala Sitharaman announced that the scheme will provide internship opportunities  in 500 top companies to 1 crore youth in 5 years. They will gain exposure for 12 months to real-life business environment, varied professions and employment opportunities, she said.

An internship allowance of ` 5,000 per month along with a one-time assistance of ` 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds, the Finance Minister added.  

Government internship scheme offers year long placements with monthly allowance and employer CSR contribution requirement for a nationwide youth cohort. A national internship programme will place a large youth cohort in 500 top companies over five years for twelve month industry placements. Participants will receive a monthly internship allowance and a one time assistance payment to support living costs. Host companies are expected to bear training costs and to contribute a portion of internship costs from their Corporate Social Responsibility funds, embedding private sector financing and training obligations into the scheme.