New Delhi, July 25 -- The Union Cabinet, chaired by Prime Minister Modi, has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan Scheme) for setting up three dedicated Chemical Parks in the country.

The Scheme, announced in the Union Budget for FY 2026-27, will run for five years, from FY 2026-27 to FY 2030-31.

The Scheme carries a total financial outlay of Rs 3,030 crore, of which Rs 3,000 crore is earmarked for establishing Common Infrastructure Facilities and Basic Utilities within the parks, and Rs 30 crore for administrative expenditure.

Under the Scheme, the Centre will provide a grant of up to Rs 1,000 crore per park, subject to a minimum contribution of Rs 500 crore by the concerned State Government.

Park Develop...