The Department of Economic Affairs of the Ministry of Finance manages the Internship Scheme for PhD or postgraduate students working on specific issues relating to macroeconomic management, capital markets, economic reforms, exchange management, and foreign investment in India.
Internship Scheme Of The Department Of Economic Affairs - Introduction
The Department of Economic Affairs of the Ministry of Finance manages the Internship Scheme for PhD or postgraduate students working on specific issues relating to macro-economic management, capital Markets, Economic Reforms, Exchange Management, Foreign Investment in India and India Investment abroad, Monetary Policy, Fiscal Policy, Inflation Management, Debt Market Operation and Debt Management (External & Domestic), Small Savings, Modernization of Budget Documents, Bilateral Investment Treaties, Infrastructure Financing, etc.
Objective
- To familiarize the selected candidates with the overall process of formulation of economic policies of the Government at a macro level.
- To provide an opportunity to carry out brief research into a key and specific economic issue/problem faced by the country and offer solutions for the same.
Duration
- The duration of the Internship maybe 3 to 6 months.
- Since the time duration is very short, interns would be required to carry out a very intense study to ensure desirable outputs in a short time frame.
Slots
- The number of Internships will be limited to a maximum of 15 paid interns.
- Ten additional unpaid interns may also be selected, out of those ranking on top but could not be selected for the paid internship.
The interns would be exclusively attached to a Joint Secretary / Director / Office of Chief Economic Adviser / Principal Economic Adviser.
Benefits
Remuneration
Token remuneration of ₹10,000/- per month per intern for PG students, and of ₹20,000/- per month per intern for PhD students is payable on satisfactory completion of their internship and on submission of their Report/Paper/Feedback.
Logistics Support
Interns will be provided with the necessary logistics support, i.e. office space and computer with internet facility.
Certificate
The Certificate of Internship shall be issued to the interns on satisfactory completion of their internship of not less than three months and on submission of their Report/Paper/Feedback/Attendance Certificate duly certified by the Divisional Head.
Eligibility
Outstanding Candidates pursuing Post Graduation or PhD in Economics/ Law/ Finance/ Management from Universities/ Institutions within the top 25 ranks as per the National Institutional Ranking Framework, by the Ministry of Human Resource Development or QS-ranked International Institutes.
NOTE 1: The Department reserves all rights for offering an internship to any candidate.
NOTE 2: An internship can be refused without assigning any reasons.
Post-Selection Conditions
- Interns, whose performance is unsatisfactory, may be relieved prematurely.
- The internship is neither a job nor any such assurance thereof in the Department of Economic Affairs.
- Submission of Paper: The interns will have to present a Report/ Paper on the allotted subject to the concerned Divisional Head at the end of the internship. Simultaneously, they are required to give feedback on their experience of the Programme to the concerned Divisional Head.
- Declaration of Secrecy: Interns are required to sign a Non-Disclosure Agreement before commencing work.
Exclusions
This program is not meant for graduate students.
Application Process
- Step 1: The applicant needs to register on the mofapp.nic.in of the Ministry of Finance.
- Step 2: In the online application form, fill in all the mandatory fields: area of interest, duration of availability with dates and three Divisions of their interest, in order of preference on which they would like to work during their internship.
NOTE 1: Details of business allocation to DEA and its Divisions are available on dea.gov.in.
NOTE 2: Applications not received through the web portal will not be considered.
NOTE 3: The only means of communication between the Department and candidates shall be by email.