New Delhi, Feb. 7 -- The government seeks to expand the coverage of the PM internship scheme for FY26 by sharply increasing the budget allocation for the ministry of corporate affairs that administers the programme, aimed at boosting skills and employability of the country's youth.

For the scheme, the government has allocated Rs.10,831 crore for FY26, more than 27 times the funds earmarked for this fiscal year, budget documents showed, indicating that the government is aiming to finance 1.8 million interns next year.

The scheme entails an annual government spending of Rs.60,000 on each of the candidates who takes up internship. To meet the five-year target of offering 10 million internships in the largest 500 companies, the government n...