India, Feb. 5 -- The PM Internship Scheme (PMIS) allocation cut in Budget 2026 reflects deeper challenges in India's youth skilling and employment policy. The Union Budget 2026 has cut the amount of the Prime Minister Internship Scheme (PMIS) to Rs4,788 crore in FY27, which is a reduction of 56% of the actual amount of the previous year. Although the cut seems abrupt, official fiscal data indicate that it is an act of long-standing underuse, rather than a policy retrenchment.

Data from the Controller General of Accounts (CGA) and the Ministry of Corporate Affairs (MCA) show that India's flagship internship scheme has struggled with fund absorption. The available figures provided by the Controller General of Accounts (CGA) reveal that fun...