The Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) Scheme to set up three chemical parks.
The scheme has a total outlay of Rs 3,030 crore over five years, from FY 2026-27 to FY 2030-31.
The Centre will give up to Rs 1,000 crore per park, with the state contributing at least Rs 500 crore.
Parks will provide shared infrastructure like effluent treatment, hazardous-waste management and utilities.
It was announced in the Union Budget 2026-27 and supports Atmanirbhar Bharat and Viksit Bharat 2047.
Build integrated chemical parks with shared infrastructure to cut costs and boost the chemical industry
Key: Three parks; up to Rs 1,000 crore central grant per park via a competitive Challenge Route
GS Paper 3 > Indian Economy; Industrial Policy
General Awareness > Government Schemes
General Awareness > Economy and Schemes
A competitive selection method where proposals compete for approval and funding.
Ready-made common facilities that let industries start operations quickly.
Common Effluent Treatment Plant, shared facility to treat industrial wastewater.