CNBC-TV18 had on September 27 reported that the MCA would release the guidelines for the Centre’s much-anticipated internship scheme this week.
This programme is part of the government’s broader effort to boost youth employment and align skill development with corporate needs, a key highlight of the Union Budget 2024.
Corporate players like Reliance Industries, Adani Group, and Mahindra have expressed interest in participating in the scheme, sources disclosed.
Eligibility criteria
The internship programme initially announced in the 2024 Union Budget, sets specific eligibility criteria for candidates.
Interns must be between the ages of 21 and 24, with a family income not exceeding ₹8 lakh annually.
Furthermore, candidates currently pursuing a formal degree or holding a job will not be eligible. However, those enrolled in online courses or vocational training will qualify.
To ensure the programme contributes to meaningful skill-building, the guidelines state that job roles for interns must be skill-based, ruling out menial tasks.
Structure and costs
The financial structure of the programme ensures that corporate involvement is key.
Under the scheme, companies will be able to fund the training costs of interns through their Corporate Social Responsibility (CSR) budgets.
The stipend for each intern will be split, with ₹500 contributed by corporate CSR funds and ₹4,500 covered by the government, offering candidates a total of ₹5,000 per month. Additionally, the government will provide a one-time payment of ₹6,000 to each intern.
One unique feature is that corporates can engage interns not just within their core business but across their supply chain and group companies. However, the certification of the internship must come from the main company, ensuring credibility and uniformity.
About the internship portal
A key element of the initiative is the Internship Portal, which will serve as a one-stop solution for both candidates and corporations.
Candidates will be required to fill out a simple form, indicating their skills and interests.
The portal will then match these skills with available roles at participating companies, automatically generating CVs for the candidates.
To ensure smooth navigation, especially for those from diverse linguistic backgrounds, the portal will offer a multi-lingual call centre and chat support. This feature aims to assist candidates in using the platform effectively and filling out the necessary forms.
The scheme was proposed to address the skills gap and foster youth employment in India.
As Finance Minister Nirmala Sitharaman stated during the 2024 Budget presentation, “This internship initiative will equip our young workforce with practical skills, aligning them with the needs of industry and helping bridge the gap between education and employment.”