BHAVYA Rasayan Scheme (Current Events)
BHAVYA Rasayan Scheme (Current Events)
Why In News:
The Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme to establish three dedicated Chemical Parks in the country, aimed at strengthening domestic chemical manufacturing and reducing import dependence.
Source: PIB, 24 July 2026; The Hindu, Page 13, 25 July 2026, 'Govt. brings Rs 3,030-cr. plan to set up three chemical parks'
Key Features of the Scheme
Financial Outlay: Rs 3,030 crore, of which Rs 3,000 crore is for common infrastructure and basic utilities and Rs 30 crore for administrative expenditure.
Duration: Implemented over five years, from FY 2026-27 to FY 2030-31, as announced in the Union Budget for FY 2026-27.
Funding Pattern: Centre to provide a grant of up to Rs 1,000 crore per park, subject to a minimum state government contribution of Rs 500 crore.
Site Requirement: Each park needs a minimum contiguous, encumbrance-free area of 2,000 acres (about 8 sq km).
Selection Mechanism: Parks to be developed by State Governments through a Challenge Route, a competitive selection process.
Plug and Play Model: Parks will offer common facilities such as Common Effluent Treatment Plants (CETP), waste management systems, laboratories and logistics infrastructure.
Significance:
Supports growth of the chemical sector across the entire value chain from raw materials (upstream) to finished products (downstream) and related supporting industries.
Enhances efficient use of resources, reducing waste and improving productivity.
Helps lower logistics and transportation costs, making the industry more competitive.
Key Facts for Prelims
Nodal Ministry: Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilisers.
Prior Related Scheme: The Bulk Drug Parks Scheme (2020), with a Rs 3,000 crore outlay, aims to reduce dependence on imported Active Pharmaceutical Ingredients (APIs), especially from China.