On Tuesday, the government has approved the establishment of a central university and multi-purpose development corporation in Ladakh, which PM Narendra Modi will ensure all-round development of this new Union Territory (UT) and provide vast opportunities to the youth. The decision was taken in a meeting by the Council of Ministers and the Prime Minister. The central university is to be set up with a cost of Rs 750 crore and the corporation with Rs 25 crore. The Ministry of Information and Broadcasting, Anurag Thakur, said that the university would set up a total cost of Rs 750 crore and cater throughout the UT of Ladakh, including Leh and Kargil. The university would help to reduce the imbalance of education in that region, and the students of Ladakh will get quality higher education. It will also help in intellectual development and help to improve the quality of education, he said. The Council of Ministers said that the university would work as a model for other educational institutions in the region. Thakur reminded that when the Jammu and Kashmir Reorganisation Act was executed in 2019, there was a Jammu central university and Kashmir central university, but there was no Ladakh central university. According to an official statement, the multi-purpose infrastructure development corporation in Ladakh would help in the inclusive and integrated development of the UT of Ladakh. It will ensure the socio-economic development of the entire population of Ladakh. The multi-purpose dimension would further help in the development and better utilisation of human resources. It will increase domestic production of goods and services and facilitate their smooth supply. Thus, help in achieving the goal of Atmanirbhar Bharat. Image Source Also read: Tamil Nadu govt gets Rs 28,508 cr via companies for 49 projects Also read: Karnataka enters pact with 23 firms for Rs 28k cr infra investments