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Cabinet Clears Rs 3,030 Crore Scheme to Set Up Three Dedicated Chemical Parks

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The Union Cabinet has approved the BHAVYA Rasayan scheme, allocating Rs 3,030 crore to develop three dedicated chemical parks across India. Formally named the Bharat Audyogik Vikas Yojana Rasayan, the initiative aims to provide world-class infrastructure to strengthen the country's chemicals sector. The scheme will be rolled out over a five-year period, with the central government offering a grant of up to Rs 1,000 crore per park. The initiative is designed to boost domestic manufacturing, draw in fresh investments, and generate employment opportunities.

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