NEW DELHI, Dec 29: The government confirmed on Sunday that approximately 621,000 applications have been submitted for 127,000 positions under the Prime Minister’s Internship Scheme, with the selection process still in progress.
Launched as part of the 2024 Union Budget, this initiative aims to create internship opportunities for 10 million young individuals over the next five years within the top 500 companies.
Currently in its pilot phase, which began on October 3, the program is set to provide 125,000 internships during the 2024-25 period.
According to a statement from the corporate affairs ministry, a total of 621,000 applications have been received for the 127,000 internship roles, with the selection process ongoing.
Partner companies have listed about 127,000 internship opportunities on the program’s portal.
So far, approximately 487,000 applicants have completed their KYC process and registered on the portal, the release noted.
Interns participating in the scheme will receive a monthly stipend of ₹5,000 for a year, along with a one-time grant of ₹6,000.
In its update regarding various initiatives undertaken this year, the ministry highlighted that it plans to revise the regulations on cost recording and auditing, taking into account the feedback from stakeholders and the recommendations of its appointed committee.
Starting from the 2023-24 financial year, the ministry has been issuing regular advisories to companies, urging them to comply with the deadlines for submitting cost audit reports.
As a result of this initiative, there has been a 14% increase in the timely submission of cost audit reports in the 2023-24 period compared to the previous year, the release mentioned. (PTI)
