<span style="color: #222222;">Cabinet has approved the establishment of an integrated multi-purpose Infrastructure Development Corporation for Ladakh.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">Cabinet also approved the creation of one post of Managing Director for the corporation.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The authorized share capital of the Corporation will be 25 crore rupees and recurring expenditure will be around 2 crore 42 lakh per year.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">Presently, there is no such similar organization within the newly formed Union Territory of Ladakh.  </span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The approval has an inherent potential for employment generation as the corporation will be undertaking various kinds of developmental activities.</span><br />'' <span style="color: #222222;"> </span><br />'' <span style="color: #222222;">The Corporation will work for industry, tourism, transport and marketing of local products and handicraft.</span><br />''  <br />