Cabinet approves scheme of Chemical Parks “Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan)

Key Highlights:

• The Union Cabinet approved Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme.
• The scheme aims to establish three dedicated Chemical Parks across the country.
• It has a total financial outlay of ₹3,030 crore for a period of 5 years (FY 2026-27 to FY 2030-31).
• The Centre will provide a grant of up to ₹1,000 crore per park, with states contributing a minimum of ₹500 crore.

Detailed Insights:

• The scheme, announced in the Union Budget FY 2026-27, seeks to promote the chemical industry across its entire value chain.
• It will provide shared Common Infrastructure Facilities and Basic Utilities, enhancing cost competitiveness and global integration for Indian industries.
• BHAVYA Rasayan aims to boost exports, facilitate import substitution, and promote Atmanirbharta in the chemical sector.
• Sustainable development is a key focus, with provisions for centralized facilities like Common Effluent Treatment Plant (CETP) and Treatment, Storage, and Disposal Facility (TSDF).
• Each park will require a minimum of 8 sq. km (2,000 acres) of contiguous, encumbrance-free land provided by the state governments.
• The initiative is expected to generate employment and contribute significantly to achieving the goal of Viksit Bharat @ 2047.

Key Concepts Involved:

• Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan): A central scheme to establish dedicated Chemical Parks with common infrastructure to boost the chemical industry.
• Common Effluent Treatment Plant (CETP): A facility that treats industrial wastewater from multiple small and medium-sized units in a cluster.
• Treatment, Storage, and Disposal Facility (TSDF): An integrated facility for the safe management of hazardous waste generated by industries.
• Viksit Bharat @ 2047: A national vision to make India a developed nation by 2047, marking the centenary of its independence.