Politics
Cabinet clears Rs 3,030 crore chemical parks scheme BHAVYA-Rasayan
The Union Cabinet has cleared a Rs 3,030 crore scheme to set up three dedicated chemical parks in India under the BHAVYA-Rasayan initiative.
The Union Cabinet cleared the BHAVYA-Rasayan Scheme on Friday, sanctioning Rs 3,030 crore for the creation of three dedicated Chemical Parks, under the chairmanship of Prime Minister Narendra Modi.
Rs 3,000 crore of the total outlay will go toward common infrastructure and basic utilities in the parks, while Rs 30 crore is reserved for administrative costs.
The Centre will offer a grant of up to Rs 1,000 crore per park, provided the concerned state government contributes at least Rs 500 crore.
Each park needs a minimum contiguous area of 8 square kilometres, or roughly 2,000 acres, of encumbrance-free land.
First unveiled in the Union Budget for FY 2026-27, the scheme will run for five years through FY 2030-31, aimed at integrating India’s chemical industry into global value chains and lowering import dependence.
The parks are intended to provide plug-and-play infrastructure with shared facilities for chemical manufacturers.
(Image: Rajiv Nair EIL (CC BY-SA 4.0))