The amount will be released to the Institute in the form of financial assistance under Plan and Non-Plan Scheme. During the last financial year, the central government had released an amount of Rs.4.50 crore (US$ 1.1 mil) as financial assistance to the Institute.

The Central Institute of Buddhist Studies, Leh-Ladakh, formerly known as School of Buddhist Philosophy, was established at the behest of Pandit Jawaharlal Nehru in 1959 with the active co-operation of Rev.Kushok Bakula Rinpoche.

It was registered under the J&K Societies Registration Act-VI,1998(1941) and was later affiliated to the Sampurananand Sanskrit University, Varanasi, UP. The department of Culture, Government of India has been financing this Institute since 1962.

The main objective of the Institute is to inculcate in its students the wisdom of Buddhist thoughts and literature, as also to familiarize them with modern subjects, translations and publications of rare manuscripts and other research work relevant to Buddhist studies. The Institute imparts education in all spheres of Buddhist studies to young lamas and other interested students.