Finshots Daily
India's internship conundrum
Aug 8, 2024
The podcast delves into the Indian government's ambitious initiative to offer internships to 1 crore young people over five years. It discusses potential collaborations with companies and the challenges posed by current hiring trends. Concerns about feasibility and inclusivity are examined, highlighting the complexities of tackling youth employment in a rapidly changing job market.
07:28
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Quick takeaways
- The government aims to enhance graduate employability by creating 1 crore internships through partnerships with 500 companies over five years.
- Significant challenges like infrastructure gaps and economic trends could hinder the feasibility of hiring 4,000 interns annually per company.
Deep dives
Government's Internship Initiative
The government plans to create internships for 1 crore young individuals by partnering with 500 top companies to enhance employability among graduates. Each company is expected to hire around 4,000 interns annually, providing a stipend of 5,000 rupees a month and a one-time allowance for additional expenses. This initiative aims to address the growing gap between job seekers and available positions, as many graduates are not immediately employable without on-the-job training. However, the program relies heavily on corporate social responsibility (CSR) funds, minimizing additional financial burdens on companies while redirecting existing resources to support skill development.
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