The Government will launch a comprehensive scheme for providing internship opportunities in top companies. This will be the 5th scheme under the Prime Minister’s package in Union Budget 2023-24.
While presenting the budget in Parliament today, the Union Finance Minister Nirmala Sitharaman announced that the scheme will provide internship opportunities in 500 top companies to 1 crore youth in 5 years. They will gain exposure for 12 months to real-life business environment, varied professions and employment opportunities, she said.
An internship allowance of Rs. 5,000 per month along with a one-time assistance of Rs. 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds, the Finance Minister said.
An internship allowance of Rs. 5,000 per month along with a one-time assistance of Rs. 6,000 will be provided to the youth. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds.
Reacting to the announcement, Dr V L Indira Dutt, President, Andhra Chamber of Commerce, said, “The proposal to provide Internship opportunities for 1 crore youth in top 500 companies in India with an allowance of Rs 5000 per month thi will be an advantage of the demographic dividend that India possesses now.”