✎ PMIS aims to provide 2.45 lakh internships but faces low participation and fund underutilization, requiring structured reforms.

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

A parliamentary panel has urged the Ministry of Corporate Affairs (MCA) to formulate a time-bound action plan with measurable performance indicators for the Prime Minister Internship Scheme (PMIS), highlighting concerns over underutilisation of funds and slow implementation. The panel noted that despite a budget of ₹2,000 crore for FY25, only ₹29.29 crore was spent, with a dropout rate of 53.6% in the first round of the pilot phase. The PMIS, announced in Budget 2024-25 with a ₹63,000 crore outlay over five years, aims to provide internships to youth, particularly women and rural candidates, but its pilot phase has faced challenges in uptake and execution.

For banking and government job aspirants, this development is relevant as it reflects government policy implementation issues, budgetary constraints, and the need for structured governance reforms. SSC and RBI Grade B exams often test knowledge of government schemes, budget allocations, and parliamentary oversight, making this a key topic for current affairs preparation. The panel’s recommendations on recalibrating the scheme and ensuring structured support systems could also be asked in descriptive or analytical questions in these exams.

Source: Business Standard

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