The Union Cabinet on Thursday gave its approval to the formation of a central university and a development corporation for the union territory of Ladakh. The central university would be constructed at a cost of Rs 750 crore and will “address imbalances in higher education,” according to JP Nadda, National President, BJP. PM Modi had promised to establish a new university in Ladakh in his Independence Day speech last year.
Today in the Cabinet meeting some pertinent decisions related to Ladakh's development were taken.
As our government believes in growth, the establishment of Central University with a cost of 750 Cr. in Ladakh is given the approval to address imbalances in higher education.— Jagat Prakash Nadda (@JPNadda) July 22, 2021
The PM Modi led cabinet also approved the creation of an Integrated Multi-purpose infrastructure Development Corporation for Ladakh which will be dedicated towards the development of the region. The authorized share capital of the Corporation will be Rs 25 crore while the recurring expenditure will be around Rs. 2.42 crore per year, the government said in a press release.
The newly created corporation will undertake developmental activities and contribute towards the creation of employment. It will work for industry, tourism, transport and marketing of local products and handicrafts in the Ladakh region. The organisation would also act as the main construction agency for infrastructure development in Ladakh.
A post of managing director has been created for the corporation in the pay scale of Rs.1,44,200- Rs.2,18,200 level. The corporation has been created in line with the recommendations of an Advisory Committee created for apportionment of the assets and liabilities of the erstwhile state of Jammu and Kashmir between the two newly created union territories- Jammu & Kashmir and Ladakh.
“Today’s Cabinet decision will ensure all-round development of Ladakh and provide a range of opportunities to the dynamic youth there,” PM Narendra Modi said on Twitter.
Today’s Cabinet decision will ensure all-round development of Ladakh and provide a range of opportunities to the dynamic youth there. https://t.co/WjWwZnpumT
— Narendra Modi (@narendramodi) July 22, 2021
“The approval will help in realizing the goal of Atmanirbhar Bharat….. through employment generation, inclusive and integrated development of Ladakh region,” the press release read.
Meanwhile, the Cabinet on Thursday also decided to allow the Production Linked Incentive (PLI) Scheme for specialty steel.
The Steel sector will get an impetus with this crucial Cabinet decision. https://t.co/kCBoC6Gi6R
— Narendra Modi (@narendramodi) July 22, 2021
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