New Delhi, Oct 4 (IANS): The Modi government has introduced the PM Internship Scheme which aims to benefit around 10 million young people over the next five years.

Union Finance Minister Nirmala Sitharaman had announced this scheme during the Union Budget for the financial year 2024-25.

Under the scheme, each intern will receive a monthly allowance of Rs 5,000, and after one year, a lumpsum of Rs 6,000 as an additional benefit from the government.

The official website for the PM Internship Scheme went live on Thursday.

The government has also confirmed that reservation policies will be followed for Scheduled Castes, Scheduled Tribes, and Other Backward Classes candidates in this scheme.

Registration for the scheme will start on October 12 and continue until October 25.

Those interested in enrolling in this pilot project can register within this period. The technology partner for this internship scheme is the Bhaskaracharya Institute for Space Applications and Geoinformatics (BISAG).

The company will shortlist candidates between October 27 and November 7, and the selected candidates will have the opportunity to decide on the internship offer between November 8 and November 15.

The internship programme, scheduled to start on December 2, would last for 13 months.

Out of Rs 5,000 stipend, Rs 500 will come from companies as part of their Corporate Social Responsibility (CSR) funds, and the remaining Rs 4,500 will be provided by the government.

The estimated cost of this pilot project is around Rs 800 crore. Advertisements for the internship scheme have already been released in multiple regional languages.

The government aims to provide as many internships as possible in the districts where candidates reside.

People aged 21 and 24, who passed their 10th-grade exams and hold a valid certificate and mark sheet, can apply for the scheme.

According to reports, 111 companies out of the top 500 have already enrolled in this programme.