Thursday, August 5, 2021

Cabinet approves Central University for Ladakh; gives nod to PLI Scheme for specialty steel

Union Cabinet has approved the setting up of a Central University in Ladakh, and an integrated multi-purpose corporation in Ladakh for infrastructure and construction projects. In another key decision, the Union Cabine approved a Production-linked Incentive Scheme for Specialty Steel. The scheme will attract additional investment of about 40,000 crore rupees and is estimated to generate more than 68,000 direct employment opportunities in the next 5 years

 

A longstanding demand of the people of Ladakh will finally come true with the Union Cabinet giving the green signal to set up a Central University in the Union Territory.

People of Ladakh especially the youth were elated at the decision and welcomed it whole heartedly.

The Cabinet also approved setting up an integrated multi-purpose corporation in Ladakh for infrastructure and construction projects.

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. The establishment of corporation will result in inclusive and integrated development of the Union Territory and will ensure socio-economic development of the entire region and population of Ladakh.

In another key decision, the Union Cabinet has approved a Production-linked Incentive or PLI Scheme for Specialty Steel. Incentives worth ₹6,322 crores will be provided over five years for manufacturing of these products in India. It is estimated that the scheme will attract an additional investment of about ₹40,000 crore and is estimated to generate more than 68,000 direct employment opportunities in the next 5 years.

People from different section of society express gratitude and said that scheme will accrue to both integrated steel plants and secondary steel players.

Clearly, the Government is committed to overall development and decisions taken today will further strengthen the goal of Self-Reliant India.

 

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