Archive · 24 Jul 2026
Cabinet Approves ₹3,030 Crore BHAVYA Rasayan Scheme
The Indian government has approved a plan called the BHAVYA Rasayan Scheme.
This plan will spend ₹3,030 crore to build three big chemical parks in different parts of the country.
These parks will have all the necessary facilities for chemical companies to set up and start working quickly.
The government will give money to help build these parks, and the states where the parks are located will also contribute.
The goal is to make the chemical industry stronger, create jobs, and make sure the parks are environmentally friendly.
The parks will have special facilities to manage waste and follow environmental rules.
This plan is expected to help the chemical industry grow and make India more competitive in the global market.
The Union Cabinet approved the BHAVYA Rasayan Scheme to establish three chemical parks with an investment of ₹3,030 crore.
The scheme will run from FY 2026–27 to FY 2030–31 and includes ₹3,000 crore for infrastructure and ₹30 crore for administrative expenses.
Each park will have a minimum area of 8 sq. km. and will be developed by state governments with a minimum contribution of ₹500 crore each.
The scheme aims to promote sustainable growth in the chemical industry by providing eco-friendly infrastructure and compliance with environmental regulations.
The initiative is expected to boost the chemical industry, create jobs, and enhance India's global competitiveness.
- Who
- Union Cabinet, chaired by Prime Minister Narendra Modi
- What
- Approval of the BHAVYA Rasayan Scheme for establishing three chemical parks
- When
- July 24, 2026
- Where
- New Delhi
- Why
- To promote sustainable development of the chemical industry and create employment opportunities
Proponents of Industrial Development
Environmental Conservationists
Economic Growth vs. Environmental Impact
Proponents of Industrial Development
The scheme will boost the chemical industry, create jobs, and enhance global competitiveness.
Environmental Conservationists
Concerns about environmental impact and the need for stringent regulations to ensure sustainability.
- Total Investment
- ₹3,030 crore
- Scheme Duration
- FY 2026–27 to FY 2030–31
- Number of Parks
- 3
- Minimum Land Area per Park
- 8 sq. km. (2,000 acres)
- Central Grant per Park
- Up to ₹1,000 crore
- State Government Contribution
- Minimum ₹500 crore