Union Cabinet approves setting up of integrated multi-purpose infra development corp for Ladakh

Jammu and kashmir Economy

The Centre has approved the establishment of an integrated multi-purpose infrastructure development corporation for the Union Territory of Ladakh.
The establishment of the corporation will result in the inclusive and integrated development of the Union Territory of Ladakh, according to an official statement.
This will, in turn, ensure the socio-economic development of the entire region and the population of UT.
The impact of the development will be multi-dimensional and it will help in further development of human resources and better utilisation thereof.
It will increase domestic production of goods and services and will facilitate their smooth supply.
Presently, there is no such similar organisation within the newly-formed UT of Ladakh.
The approval has an inherent potential for employment generation as the corporation will be undertaking various kinds of developmental activities.
The corporation will work for industry, tourism, transport and marketing of local products and handicrafts.
It will also work as the main construction agency for infrastructure development in Ladakh.