Cabinet Approved Rs 3,030 Crore BHAVYA Rasayan Scheme to Set up 3 Chemical Parks

Cabinet Approved Rs 3,030 Crore BHAVYA Rasayan Scheme to Set up 3 Chemical Parks

• Full Name: Bharat Audyogik Vikas Yojana Rasayan - BHAVYA Rasayan.
• Approved by: Union Cabinet chaired by PM Modi.
• Announced in: Union Budget FY27 by Finance Minister Nirmala Sitharaman.
• Outlay: Rs 3,030 Cr - Rs 3,000 Cr for common infrastructure and basic utilities inside park + Rs 30 Cr admin expenditure.
• Duration: 5 years FY27-FY31.
• Infrastructure: Developed by state governments through challenge-based selection. Each park requires at least 2,000 acres or 8 sq km contiguous encumbrance-free land.
• Objective: Boost domestic chemical manufacturing, reduce import dependence, promote chemical industry.
• Also Approved: Railway multitracking - 3rd and 4th Line of Ballari-Guntakal section in Karnataka and AP - cost Rs 1,264 Cr, completion by 2028-29, covering 3 districts, expand network by ∼46 km, improve connectivity to 99 villages with 7 lakh population. Approved by CCEA.
• UPSC Relevance: GS3 - Industry, Chemical Parks, Infrastructure, PCPIR.