Cabinet Approves Rs 3,030 Crore BHAVYA Rasayan Scheme for 3 Chemical Parks

The Union Cabinet, chaired by PM Narendra Modi, on 24 July 2026 approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA - Rasayan) scheme to establish three dedicated Chemical Parks with an outlay of Rs 3,030 crore. Of this, Rs 3,000 crore funds common infrastructure and basic utilities while Rs 30 crore is for administration. The scheme runs five years, FY 2026-27 to FY 2030-31. The Centre gives a grant of up to Rs 1,000 crore per park, subject to a minimum Rs 500 crore contribution by the concerned State Government. Each park needs a minimum contiguous 8 sq km (about 2,000 acres) of encumbrance-free land and offers plug-and-play infrastructure. Each park could attract Rs 20,000-50,000 crore of downstream investment.