PM Internship Scheme Records 7,292 Exits; Monthly Stipend Raised to ₹9,000

Over 7,292 candidates have left the Prime Minister Internship Scheme (PMIS) before completing their internships, the Ministry of Corporate Affairs told Parliament.  

The scheme is currently being run in a pilot format across 2 phases. News reports suggest that while applications have been high, completion levels remain lower in comparison. 

Strong Applications, Lower Completions 

The first phase, launched in October 2024, received about 621,000 applications. A total of 8,760 candidates joined internships, of which 3,605 have completed their tenure so far. The remaining participants are expected to finish between November 2025 and March 2026. 

In the second phase, which began in January 2025, around 455,000 applications were received. More than 7,300 candidates joined internships in this round. The reported exits are spread across both phases. 

Structure and Scope of the Scheme 

The internship is designed to run for 12 months, depending on the joining date. According to the government, the scheme focuses on providing exposure to corporate work settings and helping candidates develop practical skills. 

It has also clarified that the programme does not guarantee jobs. This is to improve employability rather than offer direct placements. 

Budget Allocation and Spending 

The scheme has been allocated ₹10,831.07 crore for FY26. However, the estimated expenditure so far is ₹87.46 crore. The lower spending is linked to the pilot stage, with a full rollout yet to take place. 

Stipend Increased from March 

The monthly stipend under the scheme has been raised from ₹5,000 to ₹9,000 with effect from March 2026. The revision applies to ongoing and future participants under the programme. 

Read More: PM Jan Dhan Accounts Cross 578 Million as India’s Financial Inclusion Expands! 

Conclusion 

The data shows a gap between the number of applicants and those completing internships. The scheme remains in its pilot phase, with further outcomes likely to become clearer over time. 

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