With an aim to bring in development in Ladakh and boost the Aatmanirbhar Bharat Abhiyan in the newly formed Union Territory, the Union Cabinet approved the establishment of an Integrated Multi-purpose Infrastructure Development Corporation for Ladakh.
The Cabinet chaired by Prime Minister Narendra Modi also nodded to the creation of a post of Managing Director, for the Corporation in the pay scale of Rs 1,44,200- Rs 2,18,200 level.
The authorized share capital of the Corporation will be Rs 25 crore and recurring expenditure will be around Rs 2.42 crore per year. It is a new establishment. There is no such similar organisation in Ladakh, at present. The move is expected to generate employment as the Corporation will be undertaking various kinds of developmental activities. The Corporation is being formed with an aim to boot work on various industries including tourism, transport, and marketing of local products and handicrafts. It will also work as the main construction agency for infrastructure development in the UT.
With the Corporation, doors to the inclusive and integrated development of the Union Territory of Ladakh will open. Moreover, it will ensure the socio-economic development of the entire region and the people of Ladakh.
It will lay a multi-dimensional impact on the region. It will help in the further development of human resources and better utilisation thereof. It will also aid in increasing domestic production of goods and services and will facilitate their smooth supply. Thus, the Cabinet’s approval will give a push to realizing the goal of Atmanirbhar Bharat.
The J&K and Ladakh
Consequent to the re-organisation of the erstwhile State of Jammu and Kashmir as per the Jammu and Kashmir Reorganisation Act, 2019, the Union Territory of Ladakh (without Legislature) came into existence on October 31, 2019.
As per Section 85 of the Jammu and Kashmir Reorganisation Act, 2019, an Advisory Committee was constituted for making recommendations regarding the apportionment of the assets and liabilities of the erstwhile State of Jammu and Kashmir between Jammu and Kashmir and Ladakh. The said Committee inter-alia recommended the establishment of an Integrated Infrastructure Development Corporation Ltd similar to the Andaman & Nicobar Islands Integrated Development Corporation Ltd (ANIIDCO) with an appropriate mandate to take up various developmental activities as per the specific needs of Ladakh.
Accordingly, the Union Territory of Ladakh sent a proposal to this Ministry for the establishment of the corporation in the Union Territory of Ladakh, which was recommended by the Committee on Establishment Expenditure (CEE), Ministry of Finance in April 2021.
(With inputs from PIB)