Government approves ₹3,030-cr. scheme for three large chemical parks to boost self-reliance.
The government has approved a new ₹3,030 crore scheme, Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan Scheme), to establish three large chemical parks, each spanning at least 2,000 acres. This initiative aims to make India self-reliant in the chemical sector. Information & Broadcasting Minister Ashwini Vaishnaw stated that each park could attract investments ranging from ₹20,000 crore to ₹50,000 crore, acting as a "multiplier" for economic growth. The scheme underscores the government's commitment to boosting domestic manufacturing and reducing import dependency in critical sectors.
Key Points
- The government has launched a ₹3,030 crore scheme to establish three large chemical parks.
- Each park will cover at least 2,000 acres and aims to foster self-reliance in the chemical sector.
- The scheme, named BHAVYA-Rasayan, is expected to attract significant investments, ranging from ₹20,000 crore to ₹50,000 crore per park.
- The initiative is designed to act as a "multiplier" for economic growth and boost domestic manufacturing.
- The Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, approved the proposal.
Exam Facts
- The scheme is named Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan Scheme).
- The total financial outlay for the scheme is ₹3,030 crore.
- Each park will be spread across at least 2,000 acres.
- Ashwini Vaishnaw is the Information & Broadcasting Minister.
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