BHAVYA Rasayan Scheme

SEO Title: BHAVYA Rasayan Scheme 2026: Chemical Parks, Objectives, Funding and Key Features

Category: Government Schemes | Economy | Chemicals & Petrochemicals | Industrial Policy

UPSC Notes

BHAVYA Rasayan stands for Bharat Audyogik Vikas Yojana Rasayan. It was announced in the Union Budget 2026–27 to support the establishment of dedicated chemical parks.

The Union Cabinet approved the scheme on 24 July 2026, and a Gazette notification was issued on 10 August 2026. (Chemicals and Petrochemicals Dept.)

Key Pointers

  • Full name: Bharat Audyogik Vikas Yojana Rasayan.

  • Sector: Chemical and Petrochemical industry.

  • Objective: Establish three dedicated Chemical Parks.

  • Selection mechanism: Challenge-based selection.

  • Key objectives:

    • Increase domestic production

    • Reduce import dependence

    • Improve competitiveness

    • Promote exports

    • Address infrastructure gaps

  • Implementing department: Department of Chemicals and Petrochemicals.

  • States are invited to submit proposals under the scheme. (Chemicals and Petrochemicals Dept.)

Prelims Focus: BHAVYA → Chemical Parks → 3 parks → import dependence → exports.