In a Cabinet meeting, Bahuguna presented an 18-point plan that includes restoration of Kedarnath Valley and its temple with the help of Archeological Survey of India (ASI).
Bahuguna claimed to have got "favourable response" from the Prime Minister Dr Manmohan Singh and finance minister P Chidambaram to make the rain-ravaged state habitable again.
He also decided to declare 5400 missing people in the tragedy as "presumed dead" and give their families compensation.
The Committee chaired by the Prime Minister has senior ministers A K Antony, Sharad Pawar, P Chidambaram, Ghulam Nabi Azad, Sushilkumar Shinde, Oscar Fernandes, Kapil Sibal, Girija Vyas, Jairam Ramesh and Harish Rawat as members.
It has been tasked with providing broad guidance to reconstruction and rehabilitation efforts in Uttarakhand, and take such decisions, as may be required.
Bahuguna also said the Asian Development Bank and World Bank "will find ways and means" for it.