Cabinet Approves Rs 3,030 Crore Scheme To Set Up 3 Chemical Parks
The Indian Union Cabinet has approved the BHAVYA-Rasayan scheme, allocating Rs 3,030 crore to establish three dedicated chemical parks. The initiative aims to provide plug-and-play infrastructure to boost the chemical industry's sustainability and global competitiveness.
Why it matters
This investment is a strategic move to centralize industrial waste management and improve the efficiency of India's chemical manufacturing sector.
The Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday approved the Bharat Audyogik Vikas Yojana Rasayan or BHAVYA - Rasayan Scheme for establishing three dedicated Chemical Parks in the country with an investment of Rs 3,030 crore.The scheme, announced in the Union Budget of FY 2026-27, has an allocation of Rs 3,000 crore towards meeting the cost of establishing common infrastructure facilities and basic utilities inside the parks, while the remaining Rs 30 crore is earmarked for administrative expenditure.
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