The target of appointments given by companies under the PM Internship Scheme for the youth has been easily achieved. Under this, there is a plan to appoint about 125,000 people. Placement of applicants will start from December 2. Two officers gave information about this. It is noteworthy that in the budget speech of 2024-25 on July 3, Finance Minister Nirmala Sitharaman had announced a job creation and education plan worth Rs 1.48 crore. It also talked about starting paid internships for 10 million eligible youth. Under this, these youth will be given opportunities in 500 top institutions in the next five years.
According to officials, there was a plan to make 125,000 youth paid apprentices in private sector firms. Till now the government has processed 60 thousand applications. Under this, youth can apply through the government portal till October 25. This apprenticeship is going to last for one year. Labor and Employment Minister Mansukh Mandaviya said last month that the internship scheme will give our youth a unique opportunity to work in world-class companies. They will get a chance to know and understand the corporate environment and work culture. This will make it easier for them to find job opportunities in various industries.
Another official said that the government will match applications and vacancies through AI based software. Under this scheme, interns will get Rs 5000 every month. In this, Rs 4500 will be given by the government, while Rs 500 will be given by the company. Apart from this, a one-time grant of Rs 6000 will also be available. 500 companies are involved in this campaign. These include names like Maruti Suzuki India, Reliance Industries, Tata Consultancy Services, State Bank of India, HDFC Bank, Jubilant Foodworks, Tech Mahindra and Hero MotoCorp.
opportunity for these people
Special criteria have also been made to apply for PM Internship Scheme. Under this, the candidate must have at least 10th pass. He should not have a full time job and his age should be between 21 to 24 years. Apart from postgraduates, IITs, NITs and IIMs, those having degrees like MBA, CS, CA and MBBS cannot apply for this internship.
Ishwar Arvind, an economist at Delhi University, said such schemes would depend, among other things, on matching skills with positions available in companies. He said that there is a lot of unemployment among the educated youth in our country because their educational qualifications do not match with the jobs.
It is noteworthy that India is not creating enough good quality jobs for the growing workforce on a large scale. According to the government’s Economic Survey 2024, India needs to create 7.85 million non-farm jobs every year by 2030 to cater to its growing labor force. This is much higher than the current rate of employment. Data released last month by the Statistics Ministry showed that India’s annual unemployment rate stood at 3.2% for the period July 2023-June 2024, compared to last year.
