PM Internship Scheme Budget Slashed 56% to ₹4,788 Cr for FY27 Amid Low Utilisation

• The Prime Minister’s Internship Scheme (PMIS) receives ₹4,788 crore for FY27, a 56% cut from previous allocations.
• Official data reveals weak utilisation of funds under PMIS in prior years, leading to the significant budget reduction.
• In FY26, nearly 94% of the Ministry of Corporate Affairs' budget was for PMIS, but actual expenditure was very low.
• The FY26 budget estimate for PMIS was ₹10,831 crore, sharply revised down to ₹526 crore due to unspent funds.
• Actual spending for PMIS in FY25 was only ₹32 crore, indicating slow rollout and implementation challenges.

Why It Matters: PM Internship Scheme budget cut by 56% for FY27 due to persistent low fund utilisation and implementation issues.