More Stories

Informist, Tuesday, Oct. 1, 2024

 

NEW DELHI – The government will Thursday roll out the portal to facilitate the one-year internship scheme for youth, announced in the Budget for 2024-25 (Apr-Mar), a senior official of the Confederation of Indian Industry said Tuesday. The CII is working with the Ministry of Corporate Affairs to implement the scheme.

 

While the portal will go live Thursday, allowing companies to upload their vacancies and requirements, interested candidates can start applying from the middle of the month, the official told Informist.

 

According to the official, eligibility criteria will be mentioned on the portal, based on which interested candidates can apply. It is expected that the first round of appointments will take place by the end of October. "Once the first round of applications is processed, the rest will be on a cyclical basis," the official said.

 

Finance Minister Nirmala Sitharaman had announced the scheme in the Budget to provide internships to 10 million youths over five years. The internships will be provided in the country's top 500 companies. Those selected will get an allowance of INR 5,000 per month along with a one-time assistance of INR 6,000. The companies will be expected to bear the cost of training and 10% of the internship cost from their corporate social responsibility funds, the minister had said.

 

The official said the initial sifting to shortlist suitable candidates will be done using automated back-end filters. Once a shortlist is created, companies will choose candidates by matching skills with their requirements.

 

The internship scheme is part of the Prime Minister’s Package for Employment and Skilling announced in the Budget with an overall outlay of around INR 2 trillion. The CII said this will help to improve the employability of the country's youth and also benefit industry by creating a pipeline of skilled, work-ready youngsters who can be employed in large as well as micro, small, and medium enterprises after they complete their internships.

 

“With industries grappling with a growing talent shortage, the PM Internship Scheme provides a crucial bridge," CII Director General Chandrajit Banerjee said. "By offering on-the-job training to youth, it will prepare them to meet evolving industry demands while ensuring that businesses get access to a skilled, agile future workforce, fostering progress and innovation.”  End

 

Reported by Priyasmita Dutta

Edited by Rajeev Pai

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.