Cabinet Approves BHAVYA-Rasayan Scheme With Rs 3,030 Crore for Three Chemical Parks
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the India Industrial Development Scheme Rasayan, or Bhavya-Rasayan Yojana, to set up three Dedicated Chemical Parks in the country. The scheme, announced in the Union Budget for FY 2026-27, carries a total allocation of ₹3,030 crore — ₹3,000 crore for installing indoor infrastructure and basic utilities in the parks and ₹30 crore for administrative expenses. It will run for five years, from FY 2026-27 to FY 2030-31. The Centre will provide grants of up to ₹1,000 crore for each park, after the respective State Government contributes a minimum of ₹500 crore. The chemicals and petrochemicals sector supplies inputs to agriculture, textiles, pharmaceuticals, construction, automobiles and electronics.
Key Facts & Details
10 points- 1The Cabinet approved the Bhavya-Rasayan Yojana (India Industrial Development Scheme Rasayan).
- 2It will set up three Dedicated Chemical Parks.
- 3Total allocation is ₹3,030 crore — ₹3,000 crore for infrastructure and ₹30 crore for administration.
- 4The scheme runs five years, FY 2026-27 to FY 2030-31.
- 5The Centre gives up to ₹1,000 crore per park.
- 6Each State Government must contribute at least ₹500 crore.
- 7The scheme was announced in the Union Budget for FY 2026-27.
Deep Dive
- +Chemicals and petrochemicals feed agriculture, textiles, pharmaceuticals, construction, automobiles and electronics.
- +The aim is to raise domestic production capacity and create employment.
- +It is designed to attract both domestic and foreign investment.
Exam Focus
What is the total allocation for the Bhavya-Rasayan scheme, and how many chemical parks will it fund?
Exam Relevance & Angle
Scheme names, outlays and centre-state funding splits are the most frequently asked economy general awareness, and every figure here is exact.
Target Exams
Background & Context
A dedicated industrial park is a serviced site where the government builds the shared infrastructure — power, water, effluent treatment, roads, common utilities — so individual factories can plug in instead of each building its own. That matters especially for chemicals, where effluent treatment and safety infrastructure are expensive and heavily regulated, and where a scattered factory can be hard to permit. By funding the shared backbone and requiring a state contribution, the Centre lowers the entry cost for chemical manufacturers while keeping states invested in the project's success.
Test Yourself
1 / 2The Bhavya-Rasayan Yojana approved by the Cabinet carries a total allocation of:
Source
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