The overall government budget of this project is Rs 2 trillion, and its goal is to improve young people’s employability, especially those who have limited access to specialist training or further education.
On October 3, the government, in partnership with India Inc., will launch a highly anticipated one-year internship program for young people aged 21 to 24. This is a significant initiative meant to increase youth employability and skill development. The Indian Express said that the program, which is a component of the Prime Minister’s Package for Employment and Skilling, was originally revealed in the Union Budget and is expected to present possibilities in the top 500 corporations in the nation.
On the same day, the internship portal will open for candidates to apply immediately. Official sources state that employers will first submit open internship slots, and individuals will be able to apply by October 12.
Conditions And Eligibility Requirements
Certain qualifying requirements are attached to the scheme. In addition to not being employed full-time, candidates must be between the ages of 21 and 24. 
Participants cannot come from families where any members work for the government. Furthermore ineligible are candidates who hold professional qualifications such as Chartered Accountant (CA) or Cost and Management Accountant (CMA) or who have studied at esteemed institutions like Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), Indian Institutes of Science Education and Research (IISER).
However, in order to ensure that it reaches people with fewer possibilities in the traditional employment market, the plan would be open to youth trained at Kaushal Kendras (skill centers) and Industrial Training Institutes (ITIs).
Open Selection Procedure
To remove bias, a backend automated procedure will be used to choose the interns. Employers will evaluate the candidates who were automatically chosen; if they are not happy, the process will be repeated. To guarantee fairness and conformity, a panel of public servants and business leaders will supervise the procedure.
“The selection procedure won’t be biased in any way. The procedure will start over if a corporation is unhappy with the applicant that was chosen automatically. Any difficulties will be addressed by a panel of officials from the government and business, a person with knowledge of the situation told The Indian Express.
A Significant Increase In Youth Employment
Over one crore kids in India will receive skill training through this internship program over the course of the next five years as part of a larger plan. It is intended to improve young people’s employability, especially those who have limited access to specialized training or higher education, with an overall budget of Rs 2 trillion.
Businesses will add an extra Rs 500 from their corporate social responsibility (CSR) funds to the Rs 4,500 that the government would give the interns through Direct Benefit Transfer (DBT) each month. The average CSR expenditure of the companies that qualified for this program over the previous three years was used to choose them.
In order to guarantee that interns receive practical experience rather than just classroom-based instruction, they must spend a minimum of six months in an actual working setting. In order to provide a more thorough internship experience, companies will also have the freedom to work with other schools or their supply chain partners.
Implementation In Stages
There will be two stages to the program’s implementation. While Phase 2 intends to teach an additional 7 million youth over three years, Phase 1 will focus on skilling 3 million youth over the course of two years. By offering a yearly grant of Rs 6,000 to cover incidentals and other sporadic expenses, the government demonstrates its commitment to assisting interns.
While the government and enterprises offer a predetermined monthly stipend of Rs 5,000 under the system, companies are free to choose to contribute more. The company will bear any costs over and beyond the Rs 500 CSR contribution; these will not be deducted from their CSR expenses.
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