Jharkhand Chief Minister Raghubar Das and other ministers were present on the occasion.
Murmu said the university would give impetus to the education sector and would develop as a centre of knowledge.
It (JRSV) will become an important guidance for youths keen to serve the nation, she said adding, it is an issue of pride for the state.
"Establishing an university should not be the aim but we should ensure that it should have all sorts of facilities. It should be equipped with a laboratory and library," she said while expressing hope that the university would provide right direction to the youth.
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He said education can only eradicate poverty while problem of unemployment could be addressed by making youths skilled.
The state government has sanctioned setting up of 53 colleges including 11 model colleges and 12 women colleges in the state, he said.
Three engineering colleges in forest areas including Santal Paragana region would be opened while setting up of six medical colleges was already on. A Skill University will be opened soon, he said.
The demand of cyber expert has increased. In view of the increasing demand from the big industries, the government has plan to raise Industrial Security Force. An engineering college and a skill university would be set up in Khunti, the chief minister said.