Thursday, October 2, 2025
spot_img

MCA To Expand PM Internship Scheme to More Companies

spot_img
- Advertisement -

Ministry of Corporate Affairs (MCA) is considering expanding the scope of PM Internship Scheme, which currently applies to the top 500 companies based on Corporate Social Responsibility (CSR) spending.

The move aims to increase internship opportunities for young professionals and enhance industry-academia collaboration.

The MCA has initiated consultations with industry leaders, including the Confederation of Indian Industry (CII), to finalize the framework for the scheme’s expansion.

Current Structure of PM Internship Scheme

The Prime Minister’s Internship Scheme, announced in Budget 2024, aims to provide internship opportunities to 1 crore youth over five years.

Under the current framework:

  • Interns receive a monthly stipend of ₹5,000 and a one-time assistance of ₹6,000.
  • Companies bear 10% of the internship cost from their CSR funds, which is tax-deductible.
  • The scheme is voluntary, allowing companies to opt-in based on their CSR commitments.

PM Internship Scheme: Proposed Expansion Beyond Top 500 Companies

Industry representatives have recommended widening the scheme to include the top 1,000 companies based on CSR spending.

The MCA is conducting consultations in major cities, including Delhi, Mumbai, Bengaluru, Kolkata, and Chennai, to gather feedback from stakeholders.

The expansion could:

  • Increase internship placements across diverse industries, including manufacturing, services, and technology.
  • Enhance skill development by providing real-world exposure to a larger pool of students.
  • Strengthen industry-academia partnerships, ensuring better alignment between education and employment needs.

Government’s Vision and Industry Response

Finance Minister Nirmala Sitharaman emphasized that the scheme will help youth gain real-time business exposure and prepare them for future employment.

Industry leaders, including CII President Sanjiv Puri, have welcomed the initiative, stating, “By offering on-the-job training, the scheme will cultivate a skilled workforce ready to take on future challenges.”

CII is actively working with MCA to develop a centralized portal for internship applications, ensuring seamless coordination between companies and applicants.


Note: We are also on WhatsApp, LinkedIn, Google News, and YouTube, to get the latest news updates. Subscribe to our Channels. WhatsApp– Click HereGoogle News– Click HereYouTube – Click Here, and LinkedIn– Click Here.

spot_img

Editorial

Why TCS Deferred FY25 Salary Hike: Better Hike Ahead?

TCS had initially announced its annual salary hike during...

Deloitte, PWC, EY, KPMG to Hire 1 Lakh People in India in FY25

According to estimates from top company officials and industry...

Higher EPS Pension Application Stuck: A Step-by-Step Guide to Fix

Nearly 97,640 Provident Fund (PF) members and pensioners under...

Employee Benefits at India’s Big 4 Firms Deloitte, PwC , EY, KPMG

The Big 4 firms; Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst...

TCS Announces 4-8% Salary Hike for FY25, Lowest in Last 4 Years

Tata Consultancy Services (TCS), India's largest IT services provider,...

Must Read

Shaadi.com to empower 10,000 women in the workforce

The world's largest online matchmaking site, to promote women’s financial...

India Sets Ambitious Target of 700,000 Internships for FY26

The Government of India has significantly raised the bar...

IBM is hiring across India for Entry Level positions including HR & IT

IT and Technology giant, IBM India is hiring across...

Wipro names Wagner Jesus as Country Head for Brazil

Wipro Limited, leading technology services and consulting company, announced...

TCS may bring employees Back to Office by this year-end or early 2022

According to media reports, Tata Consultancy Services (TCS) will...

HCLTech Walk-in Interviews from 8-10 July; Know More here!

HCLTech is hiring for various roles and conducting walk-in...

Line Managers: Hidden Architects of the Employee Experience

In today’s fast-evolving, hybrid world of work, one truth...

IBM to offer free digital training to Indian youth with NSDC

IBM to offer free digital training to Indian youth...

Related Articles

Sahiba Sharma
Sahiba Sharmahttps://sightsinplus.com/
Sahiba Sharma, Senior Editor - Content at SightsIn Plus