CABINET APPROVES ESTABLISHMENT OF AN INTEGRATED MULTI-PURPOSE CORPORATION FOR THE UNION TERRITORY OF LADAKH

THE CONTEXT: The Union Cabinet has approved the establishment of an Integrated Multi-purpose infrastructure Development Corporation for the Union Territory of Ladakh

Analysis

• It is a new establishment.  Presently, there is no such similar organization 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.
• Corporation will work for industry, tourism, transport and marketing of local products and handicraft.
• Corporation will also work as main construction agency for infrastructure development in Ladakh.
• The establishment of corporation will result in inclusive and integrated development of the Union Territory of Ladakh.
• This will, in turn, ensure socio-economic development of the entire region and population of the Union Territory.
• The erstwhile State of Jammu and Kashmir has been re organised as per the Jammu and Kashmir Reorganisation Act, 2019.
• On this basis, the Union Territory of Ladakh (without Legislature) came into existence on 31.10.2019