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Home Governance

Integrated Multi-purpose infrastructure Development Corporation for Ladakh

July 23, 2021
in Governance
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Integrated Multi-purpose infrastructure Development Corporation for Ladakh
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In news- The Union Cabinet has approved the establishment of an Integrated Multi-purpose infrastructure Development Corporation for the Union Territory of Ladakh.

Key updates-

  • It is a new establishment as presently there is no such similar organization within the newly formed UT of Ladakh. 
  • Corporation will work for industry, tourism, transport and marketing of local products and handicrafts. 
  • Corporation will also work as the main construction agency for infrastructure development in Ladakh.
  • The authorized share capital of the Corporation will be Rs.25 crore and recurring expenditure will be around Rs. 2.42 crore per year. 
  • The creation of one post of Managing Director, for the corporation in the pay scale of Rs.1,44,200- Rs.2,18,200 level has been approved.
  • The establishment of the corporation will result in inclusive and integrated development of Ladakh. 
  • It will help in further development of human resources and better utilization thereof. 
  • It increases domestic production of goods and services and will facilitate their smooth supply.
  • The proposal to establish the corporation in the Union Territory of Ladakh was recommended by the Committee on Establishment Expenditure (CEE), Ministry of Finance in April, 2021.
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Source: PIB
Tags: PIBPrelims

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