Govt approves Central University for Ladakh

Jammu and kashmir Economy

The government has approved setting up of a Central University in Ladakh at a cost of Rs 750 crore.
It also announced to establish Ladakh Integrated Infrastructure Development Corporation Limited (LIIDCO) to look after the developmental needs of the Union Territory (UT).
The two decisions were taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi with an aim to address regional imbalances in higher education and developmental shortfalls in the UT.
This would increase access and quality of higher education and also act as pace setter for other educational institutions in the region by promoting avenues of higher education and research facilities for the people of the Union Territory.
Meanwhile, the establishment of LIIDCO would result in inclusive and integrated development of the UT, and this would, in turn, ensure socio-economic development of the entire region and the local population.
Noting that the approval would help in realising the goal of Atmanirbhar Bharat, the government said the authorised share capital of the corporation would be Rs 25 crore and recurring expenditure around Rs 2.42 crore per year.