Standing Committee on Finance, chaired by Bhartruhari Mahtab, has formally requested the Ministry of Corporate Affairs (MCA) to provide a comprehensive evaluation of the Prime Minister’s Internship Scheme (PMIS). 

This enquiry focuses on the scheme’s financial allocations, performance metrics, and the substantial budgetary increase proposed for the fiscal year 2025-26, sources said. Detailed written replies of MCA has been sought by Parliamentary Panel, they added. 

Financial Expenditure & Revised Estimates

The Standing Committee has sought detailed information on the actual expenditure incurred for PMIS during the fiscal year 2024-25. Additionally, it has requested the Revised Estimates (RE) for 2024-25 to understand the financial trajectory and adjustments made post the initial budgetary allocations. This data is crucial for assessing the scheme’s financial management and ensuring that funds are being utilized effectively.

Rationale Behind Budgetary increase

A significant point of concern is the drastic increase in the Budget Estimate (BE) for 2025-26, which stands at ₹10,831.07 crore, a substantial rise from the ₹2,000 crore allocated as budget estimate for 2024-25. The committee has questioned the underlying reasons for this fivefold increase and sought  a detailed explanation from the MCA. Understanding the factors contributing to this escalation is essential for evaluating the scheme’s scalability and financial sustainability.

Performance Metrics & Target Achievements

To gauge the effectiveness of PMIS, the Committee has requested information on both physical and financial targets set for each component of the scheme. This includes the percentage of targets achieved during the preceding year and an analysis of any delays or shortcomings in meeting these objectives. Such insights are vital for identifying operational challenges and implementing corrective measures to enhance the scheme’s impact.

Budget Proposals and Actual Allocations

The Committee seeks a comparative analysis of the funds proposed by the MCA and the actual amounts allocated for PMIS over the past three years. This comparison will shed light on the alignment between the Ministry’s financial requests and the government’s budgetary provisions, offering perspective on resource adequacy and financial planning.

Monitoring and Control Mechanisms

Effective oversight is crucial for the success of large-scale initiatives like PMIS. The Committee has inquired about the existing systems in place for monitoring and controlling the scheme’s performance. Details regarding regular evaluations, reporting structures, and accountability frameworks are essential to ensure that the scheme operates transparently and achieves its intended outcomes.

Enhancing Fund Utilization and Implementation

To improve the scheme’s efficacy, the committee has asked the MCA to outline the steps taken or proposed to enhance fund utilization and streamline implementation processes. This includes strategies to address bottlenecks, optimise resource allocation, and ensure that the benefits of the scheme reach the intended beneficiaries promptly.

Recent Evaluations and Reviews

The Committee has requested copies of the latest reviews or evaluations conducted by any agency regarding PMIS. These assessments are critical for understanding the scheme’s current impact, identifying areas for improvement, and making informed decisions about future directions.

Challenges in Implementation

Recognising that large-scale programs often encounter obstacles, the Committee has sought insights into the specific challenges faced by the MCA in implementing PMIS. Understanding these difficulties and the steps taken to mitigate them will provide a clearer picture of the operational landscape and inform strategies to enhance the scheme’s effectiveness.

The Prime Minister’s Internship Scheme, announced in the Budget 2024-25, aims to provide 1 crore internship opportunities to youth in India’s top 500 companies over 5 years. A pilot project was launched on October 3, 2024, targeting 1.25 lakh internships for the fiscal year 2024-25. As of February 10, 2025, approximately ₹48 crore has been spent on the pilot project, with the MCA actively gathering feedback from stakeholders to assess its impact.  

The Committee’s comprehensive enquiry underscores the importance of transparency, accountability, and efficiency in the implementation of PMIS. The MCA’s detailed responses to these queries will be instrumental in shaping the future course of the scheme, ensuring that it meets its objectives of empowering youth and enhancing their employability in India’s corporate sector, economy watchers said. 

Published on February 18, 2025