India tweaks CSR guidelines for CPSEs to include PM’s Internship Scheme
This new initiative is set to guide how CPSEs allocate their CSR funds in 2024-25.
For the current fiscal year, as per the PTI report, CPSEs will focus on two main areas: Health and Nutrition and the recently introduced PM’s Internship Scheme.
CPSEs traditionally adopt a theme-based approach for their CSR expenditures, with 60% of their funds directed toward a designated theme each year.
The Prime Minister’s Internship Scheme, announced by Finance Minister Nirmala Sitharaman in the Union Budget for 2024-25, aims to provide internship opportunities to 10 million young Indians aged 21-24 over the next five years.
The initiative seeks to enhance youth employability by connecting them with top companies across various sectors. Candidates can register themselves on the portal through https://pminternship.mca.gov.in.
The internship, set to begin in December 2024, will be a year-long programme under a pilot project estimated at ₹800 crore.
During the pilot phase, 125,000 candidates are expected to be covered by the end of March 2025.
Interns will receive a monthly stipend of ₹5,000, with ₹4,500 funded by the government and ₹500 contributed by the companies using their CSR budgets. Interns will also receive a one-time grant of ₹6,000 and life insurance coverage during the internship.
Also read: PM Internship Scheme sees 1.55 lakh applications in 24 hours
The Ministry of Corporate Affairs has begun registering companies and interns for the scheme.
Applicants can enrol on the portal by October 25, with shortlisting and selection processes set to follow in late October and early November.
First Published: Oct 20, 2024 1:14 PM IST
