Cabinet approves establishment of Central University in Ladakh: Key highlights

New Delhi, July 22: The Union Cabinet on Thursday approved the establishment of a Central University in the Union Territory of Ladakh. Union Minister Anurag Thakur informed that the first phase of the varsity will be completed in four years, and the total project cost would be Rs 750 crore.

The upcoming varsity will cover the entire Ladakh region, including Leh and Kargil and will address regional imbalances in the higher education levels.

During the Cabinet briefing, many other schemes were announced. Take a look:

• Cabinet approves establishment of a Central University in the Union Territory of Ladakh
• Cabinet approves establishment of Ladakh Integrated Infrastructure Development Corporation Limited (LIIDCO) in the Union Territory of Ladakh.
• Cabinet approves Production-linked Incentive (PLI) Scheme for Specialty Steel with incentives worth ₹6,322 crores to be provided over five years.
• Steel Ministry has identified 5 broad categories and 20 sub-categories for PLI scheme. Eligibility criteria to include end-to-end manufacturing, JVs and MoUs and 20% value addition by third parties.
• Rs 39,625 crore investment is expected in specialty steel manufacturing, moreover, a cap of Rs 200 crore per company will be imposed under the PLI scheme.
• The scheme will cover coated/plated steel products, high strength/wear resistant steel, specialty rails, alloy steel products, steel wires and electrical steel.
• Any company registered in India, engaged in manufacturing of the identified 'specialty steel' grades eligible to participate.
• PLI scheme for steel sector will enhanced exports and minimise dependence on imports for high-end steel in the country, bring in investment of approximately ₹140,000 crore, generate potential employment of about 5.25 lakh