The Narendra Modi government is gearing up to launch the Prime Minister’s Internship Scheme, with plans to unveil the initiative within the next month. The scheme, aimed at providing opportunities to 1 crore youth, will prioritise top corporate social responsibility (CSR) spenders, including major corporations such as Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Oil and Natural Gas Corporation (ONGC), Infosys, and NTPC.
Announced earlier during the Union Budget by Finance Minister Nirmala Sitharaman, the internship program is part of a broader effort to involve the top 500 companies in providing meaningful work experiences to India’s unemployed youth. As per a report by the Economic Times, companies will be chosen based on their average annual CSR spending over the last three fiscal years, up to 2022-23.
“The suggestion to prioritise companies based on their CSR spending came from industry players, and the government has accepted it,” said a source familiar with the discussions. While the primary criteria for company selection will be CSR contributions, additional factors are still being finalised.
The Ministry of Corporate Affairs (MCA) is spearheading the rollout of the program and is in active discussions with corporate stakeholders to ensure smooth implementation. Under the scheme, companies with higher CSR spending are expected to take on a larger number of interns. On average, each participating company could engage around 4,000 interns annually for a period of five years, with the government covering a significant portion of the associated costs.
The scheme is designed to be voluntary, but the MCA is working to encourage widespread participation among large corporations. Public-sector units, though not typically governed by the Companies Act’s CSR provisions, are also being considered for inclusion. “Public-sector units will have a bigger role if private companies show less interest, though many private firms seem eager to join,” a source told Economic Times.
State-run banks may also be invited to participate in the scheme, broadening its reach beyond private sector companies. A new online portal will soon be launched, allowing eligible applicants to apply directly to the participating companies.
The program’s goal is to provide meaningful internships for unemployed youth aged 21 to 24 from economically disadvantaged backgrounds. Specifically, the scheme targets young individuals from households where no family member pays income tax and who have not attended prestigious institutions like the Indian Institutes of Technology (IITs) or Indian Institutes of Management (IIMs).
Each intern will receive a monthly stipend of Rs 5,000, alongside a one-time allowance of Rs 6,000 for the year. The government will cover the bulk of the internship costs, amounting to Rs 54,000 per intern, while companies will be responsible for the training expenses and will contribute 10 percent of the monthly stipend from their CSR funds.
