The Centre on Thursday approved the establishment of a central university and an integrated multi-purpose infrastructure development corporation for Ladakh, which Prime Minister Narendra Modi said will ensure all-round development of the newly-created UT and provide a range of opportunities to the dynamic youth there.
The decisions to set up the central university at a cost of Rs 750 crore and the corporation with a fund of Rs 25 crore for Ladakh were taken at a meeting of the Union Cabinet chaired by the prime minister.
Information and Broadcasting Minister Anurag Thakur said the university will be set up with a total outlay of Rs 750 crore and will cater to all areas of the Union Territory (UT) of Ladakh that include Leh and Kargil.
Thakur said the university will help reduce the imbalance in the region on the education sector and students of Ladakh to get quality higher education opportunities.
It will help in intellectual development and better higher education and will help improve the quality of education, he said at a press conference.
The union minister said the central university will work as a model for other educational institutions in the region.
Thakur said when the Jammu and Kashmir Reorganisation Act was enacted in 2019, there was a Jammu central university and a Kashmir central university, but there was no central university in the UT of Ladakh.
The establishment of an integrated multi-purpose infrastructure development corporation for Ladakh will result in inclusive and integrated development of the UT of Ladakh, an official statement said.
This will, in turn, ensure socio-economic development of the entire region and the population of the UT.
The impact of development will be multi-dimensional and it will help in further development of human resources and better utilisation thereof.
It increases domestic production of goods and services and will facilitate their smooth supply.
Thus, the approval will help in realising the goal of 'Atmanirbhar Bharat', the statement said.
The authorised share capital of the corporation will be Rs 25 crore and recurring expenditure will be around Rs 2.42 crore per year. It is a new establishment.
Presently, there is no such similar organisation within the newly-formed UT of Ladakh.
The prime minister said the Union Cabinet's decision to set up the corporation will ensure all-round development of Ladakh and provide a range of opportunities to the dynamic youth there.
Union Home Minister Amit Shah said the university in Ladakh will provide world-class education facilities to the youth of Ladakh, so that they will be able to contribute to the development of the country and the region.
On the other hand, Shah said the integrated multi corporation will develop local industries, which will boost employment and tourism in the area.
"For the all-round development of Ladakh, which has been away from development for decades, @narendramodi ji has taken a historic initiative by approving the setting up of a central university at a cost of Rs 750 crore and an integrated multi-purpose infrastructure development corporation at a cost of Rs 25 crore. I express my heartfelt gratitude to Modi ji for these decisions," he said in a tweet in Hindi.
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