Cabinet approves scheme of Chemical Parks “Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan)

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA‑Rasayan) Scheme to set up three dedicated Chemical Parks. The scheme, announced in the FY 2026‑27 Union Budget, carries a total outlay of Rs 3,030 crore – Rs 3,000 crore for common infrastructure and basic utilities and Rs 30 crore for administration – and will run for five years (FY 2026‑27 to FY 2030‑31). The Centre will provide a grant of up to Rs 1,000 crore per park, subject to a minimum Rs 500 crore contribution from the respective State Government. Each park will cover at least 8 sq km of encumbrance‑free land and will offer plug‑and‑play facilities such as a common effluent‑treatment plant, water supply, solvent‑recovery units, steam network, pipelines and logistics infrastructure.