Overview

• The Ministry of Corporate Affairs is finalizing a Cabinet note to expand the PM Internship Scheme for FY26, targeting 700,000 internships, a significant increase from FY25 goals.
• The scheme offers a Rs 5,000 monthly stipend plus a Rs 6,000 one-time allowance, with companies providing additional top-ups to improve participation.
• The second pilot phase saw over 500 companies participate, with enhanced incentives and geo-tagged opportunities to address low uptake in the first round.
• Proposed changes for the full rollout include year-round hiring, expanding participation beyond the top 500 companies, and refining eligibility criteria.
• Industry bodies such as CII and FICCI have expressed strong support for the scheme, which aims to provide 10 million internships over five years.