✎ PMIS aims to upskill youth but faces implementation gaps requiring structured action plans and realistic budgeting.

Relevance for Banking, SSC & RBI Grade B exams: Polity & Governance

A parliamentary panel has flagged concerns over the slow rollout and under-utilisation of funds under the Prime Minister’s Internship Scheme (PMIS), which was announced in the Budget 2024-25 with a total outlay of Rs 63,000 crore over five years. The panel, in its report tabled in the Lok Sabha, noted that only Rs 29.29 crore of the Rs 2,000 crore allocated for the pilot phase in FY25 was spent, highlighting overestimation of absorptive capacity and implementation delays. With over 2.45 lakh internship opportunities posted but only 16,060 candidates joining—resulting in a dropout rate of 53.6% in the first round—the committee has sought a time-bound action plan, structured support systems for travel, relocation, and accommodation (especially for women and rural youth), and measurable performance indicators before full-scale implementation. The scheme’s guidelines were revised in March 2026 to expand eligibility to 18-25 years, increase monthly assistance to Rs 9,000, and allow flexible internship durations of six to nine months.

The panel’s recommendations assume significance for banking, SSC, and RBI Grade B exam aspirants as they reflect governance challenges in large-scale public schemes, budgetary mismatches, and the need for structured policy implementation. For banking exams, understanding the PMIS’s budgetary allocations (Rs 63,000 crore) and expenditure shortfalls (Rs 2,000 crore vs. Rs 29.29 crore spent) can be relevant for questions on fiscal management, public expenditure, and governance reforms. SSC aspirants may encounter questions on the scheme’s eligibility criteria (expanded to 18-25 years) or dropout rates, linking them to socio-economic policies and skill development initiatives. RBI Grade B candidates could draw parallels with the panel’s emphasis on sectoral studies (e.g., oil, energy, insurance) by the National Financial Reporting Authority, which ties into financial sector audits and regulatory oversight—key areas in RBI’s purview.

Source: Business Standard

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