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News: The Union Cabinet has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme for the establishment of three dedicated chemical parks across the country.
About BHAVYA Rasayan Scheme
- Full form: Bharat Audyogik Vikas Yojana Rasayan or BHAVYA – Rasayan Scheme
- Aim: The scheme is devised for the establishment of three dedicated chemical parks across the country, aiming to strengthen India’s chemical manufacturing ecosystem, attract investments and enhance global competitiveness.
- It was announced in the Union Budget of FY 2026–27.
- Timespan: The scheme would run for a period of 5 years from FY 2026-27 to FY 2030-31.
- Financial Outlay: The Scheme will have a total financial outlay of Rs. 3,030 crore, with Rs. 3,000 crore towards meeting the cost of establishing the Common Infrastructure Facilities and Basic Utilities inside the park and Rs. 30 Crores as administrative expenditure.
- The Centre would provide a grant of up to Rs.1,000 crore per park.
- This will be subject to minimum contribution of Rs.500 crore by the concerned State Government.
- Other Features
- The Centre will facilitate development of three dedicated Chemical Parks by the State Governments under Challenge Route.
- Each such park will have a minimum contiguous area of 8 sq. km. (minimum 2,000 acres) of encumbrance-free land.
- These parks will provide plug-and-play infrastructure, in the form of Common Infrastructure Facilities and Basic Utilities for the chemical industry such as –
- Common Effluent Treatment Plant (CETP),
- Treatment, Storage, and Disposal Facility (TSDF),
- Water supply and distribution systems,
- Solvent recovery and distillation facilities,
- Steam generation and distribution network,
- Interconnected pipeline network,
- Logistics and warehousing facilities
- Future Benefits
- It will promote development of the Chemical industry along the whole value chains, leading to lower logistics cost.
- It will lead to enhanced cost competitiveness and will make the Indian Industry globally competitive.
- It will help the Indian Chemical industry better integrate in Global Value Chains leading to greater exports and higher import substitution.
- It will ensure better compliance management with environmental regulations, thereby promoting development of industry in eco-friendly manner.
- Development of Chemical sector will lead to a cascading effect through enhanced development of downstream sectors of the economy as well, helping achieve the goal of Viksit Bharat @ 2047.
