The internship scheme proposed by the Indian government in the Union Budget 2024-25 aims to create opportunities for students to gain practical work experience. According to the details, the initiative is designed to enhance skill development and provide practical experience to students and young professionals, helping them gain valuable insights into their chosen fields and improve their employability. The internships are expected to span different industries and sectors, contributing to the overall growth of the job market and supporting the countrys economic development. The launched program will provide internship and apprentice opportunities to over 1 crore youth in the next five years in the top 500 companies and each intern will receive a monthly allowance of Rs 5,000 and one-time assistance of Rs 6,000 also.The key points of the scheme include:Internship Opportunities for Graduates: The scheme will provide internships for graduates in various sectors, including agriculture, social welfare, and public administration.Collaboration with Industries and Organizations: The government will collaborate with industries, businesses, and non-governmental organizations (NGOs) to facilitate these internships.Focus on Skill Development: The internships will focus on enhancing the employability of graduates by providing them with practical skills and work experience relevant to their fields of study.Inclusion of Vocational Education: The scheme will also emphasize the importance of vocational education and training, integrating it with mainstream education to create a more skilled workforce.Stipend and Financial Support: Interns may receive a stipend or financial support during their internship period to cover their expenses.Digital Platforms for Internship Matching: The government will develop digital platforms to help match students with appropriate internship opportunities based on their skills and interests.Focus on Rural Areas: Special attention will be given to creating internship opportunities in rural areas to promote rural development and bridge the urban-rural divide.Monitoring and Evaluation: The scheme will include mechanisms for monitoring and evaluating the effectiveness of internships to ensure that the objectives of skill development and employability are met.Overall, the scheme will provide a real life exposure for 12 months, while participating companies can cover training costs and 10 per cent of the internship cost from their Corporate Social Responsibility (CSR) funds. Notably, the scheme is part of the broader effort to boost employment and skill development among the youth, contributing to the overall economic growth and development of the country.Not only this, the government has also planned to incentivize 30 lakh youth to enter the job market by offering a month PF contribution.
