Turn of the intern: Can India Inc absorb 10 million interns over 5 years?

India Inc’s annual expenditure on corporate social responsibility (CSR) projects is more than sufficient to cover the cost of hiring and training 10 million interns over the next five years, according to this year’s Union Budget, presented on July 23. One of its proposals is that India’s 500 largest companies will be encouraged to hire 2 million interns a year for the next five years, with the option to use CSR funds to cover 10 per cent of the annual costs associated with these internships.

According to the Companies Act, 2013, companies are required to spend at least