New Delhi: The Central Government approved the setting up of a Central University in Ladakh at a cost of Rs 7,500 crore. It also announces the establishment of an integrated multi-purpose infrastructure development corporation in the Union Territory of Ladakh.
The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi with an aim to increase access and quality of higher education in the region.
As per the report, the corporation will have an authorized share of Rs 25 crore and a recurring expenditure of Rs 2.42 crore a year. Moreover, the cooperation will work on industry, tourism, transport and marketing of local products and handicrafts. It will also be the main construction agency for development projects.
After the Cabinet meeting, Information and Broadcasting Minister Anurag Thakur said the University would fill the gap in higher education as the UT did not have any Central varsity when it was carved out of the then State of Jammu and Kashmir.
“The establishment of an integrated multi-purpose infrastructure development corporation for Ladakh will result in the inclusive and integrated development of the UT of Ladakh. This will, in turn, ensure the socio-economic development of the entire region and the population of the UT.” added Minister Thakur.