INTERNSHIP PORTAL (Syllabus: GS Paper 3 –Economy)

Context: A internship portal is in the works to enable youths to apply for internships directly with the country's top 500 companies under a special package announced in the Budget.

Internship Portal

• About: The portal will facilitate matching of skill sets of the applicants with the type of internship opportunities provided by the companies.
• Nodal Agency: Ministry of Corporate Affairs (MCA)
• Eligible for internship: An individual between 21 to 24 years of age is eligible to apply for internship.
• Objective: The scheme aims to provide internships to 1 crore youth over the next five years to enhance their skills and employability.
• Target Audience: Special focus on marginalized groups, particularly those with fewer skills and lower employability, to maximize benefits from the internship program.
• Implementation: Internships will be offered by India’s top 500 companies, providing 12 months of exposure to real-life business environments and diverse professions.
• Financial Support: Interns will receive a monthly allowance of Rs 5,000 and a one-time assistance of Rs 6,000 during their internship period.
• Company Contributions: Companies will cover the training costs and 10% of the internship expenses from their Corporate Social Responsibility (CSR) funds.