Why is it in the news?
→ CGA data showed severe underutilisation of funds barely one year after launch.
→ Highlights design and implementation gaps in youth employability initiative.
Category: Polity
Important Points
- Launched under the Ministry of Corporate Affairs in Union Budget 2024–25.
- Target: 1 crore internships in top 500 companies over five years.
- Eligibility: Youth aged 21–24 with minimum Class 10 qualification; not in full-time employment or regular education.
- Benefits: ₹5,000 monthly stipend, one-time ₹6,000 grant, insurance under PMJJBY & PMSBY.
- Internship duration: 12 months with at least 50% workplace exposure.
- Ineligible: IIT/IIM/NLU/IISER graduates, professional/postgraduate degree holders, NAPS/NATS trainees.
- FY26 allocation exceeded ₹11,500 crore; only ~4% utilised by Nov 2025; ~94% earmarked for PMIS.
- Less than one-third of internship offers are accepted.
- Very low completion rates reported.
- Concerns include inadequate stipend and weak candidate–company matching.
- Linked with Skill India Mission, PMKVY 4.0, PM-NAPS and Jan Shikshan Sansthan.