BHAVYA Rasayan scheme: Government approves over Rs 3,000 crore for setting chemical parks
The Union government has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme. Under the scheme, Rs 3,030 crore will be spent on the development of 3 dedicated chemical parks across the country.
Each chemical park will be built on a minimum contiguous area of 8 sq km of encumbrance-free land, with the Centre providing financial assistance of up to Rs 1,000 crore per park. State governments will contribute a minimum of Rs 500 crore towards the project
These parks will offer plug-and-play industrial infrastructure, enabling chemical manufacturers to establish operations more quickly while reducing project costs and improving ease of doing business.
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