BHAVYA – Rasayan Scheme Context: The Union Cabinet, chaired by Prime Minister, approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA – Rasayan Scheme) on 24th july 2026. It was announced in the Union Budget 2026–27. About BHAVYA – Rasayan Scheme The scheme aims to establish three dedicated Chemical Parks in India. The scheme will be implemented for 5 years, from FY 2026–27 to FY 2030–31. Objective To develop world-class Chemical Parks with modern infrastructure. To strengthen the Indian chemical industry and improve its global competitiveness. To attract domestic and foreign investment in the chemical sector. Financial Outlay Total allocation: ₹3,030 crore. ₹3,000 crore for creating common infrastructure and basic utilities in the parks. ₹30 crore for administrative expenses. Funding Pattern The Central Government will provide a grant of up to ₹1,000 crore for each Chemical Park. The concerned State Government must contribute at least ₹500 crore. Key Features Establishment of three dedicated Chemical Parks. Development of Common Infrastructure Facilities (CIFs) and Basic Utilities. Creation of facilities specially designed to meet the needs of the chemical industry. Benefits to the Chemical Industry Supports the growth of upstream, downstream, and ancillary industries. Ensures better use of resources and reduces logistics costs. Shared infrastructure lowers production costs and improves efficiency. Makes Indian chemical products more competitive in global markets. Global Competitiveness Helps the Indian chemical industry integrate with Global Value Chains (GVCs). Encourages higher exports. Reduces dependence on imports through increased domestic production. Environmental Sustainability Promotes an eco-friendly industrial ecosystem. Provides common environmental facilities such as: Common Effluent Treatment Plant (CETP) Treatment, Storage and Disposal Facility (TSDF) Hazardous Waste Management Infrastructure Improves compliance with environmental regulations. Economic Impact Boosts the growth of the chemical sector and related industries. Creates large-scale employment opportunities. Supports overall economic development. Contributes towards achieving the vision of Viksit…
