Ladakh To Get Central University And Integrated Multi-Purpose Infrastructure Development Corporation

In a big boost for Ladakh, Prime Minister Narendra Modi led Union Cabinet on Thursday (22 July) approved the setting up of a Central University and an Integrated Multi-purpose Infrastructure Development Corporation in the Union Territory.

The Central University will be set up in Ladakh at a cost of Rs 750 crore and the jurisdiction of the varsity will cover the regions of Leh and Kargil.

In a press briefing, Union Minister for Information and Broacasting Anurag Singh Thakur said that the new institution will correct regional imbalances and improve the quality of higher education in the Union Territory since both Jammu and Kashmir have one central university each, reports Indian Express.

Meanwhile, the cabinet also approved establishment of an Integrated Multi-purpose Corporation for Ladakh.

The Cabinet also approved the creation of one post of managing director for the corporation in the pay scale of Rs 1,44,200- Rs 2,18,200 level.

The authorised share capital of the Corporation will be Rs 25 crore and recurring expenditure will be around Rs 2.42 crore per year, an official release said on Thursday (22 July).

At present, there is no such similar organisation within the newly formed UT of Ladakh, it said.

The approval has an inherent potential for employment generation as the corporation will be undertaking various kinds of developmental activities and will work for industry, tourism, transport and marketing of local products and handicraft.

It will also work as main construction agency for infrastructure development in Ladakh, the release said.

The establishment of corporation will result in inclusive and integrated development of the Union Territory of Ladakh. This will, in turn, ensure socio-economic development of the entire region and population of the UT, it added.

The Corporation will help in further development of human resources and will promote domestic production of goods and services and will facilitate their smooth supply.