Cabinet approves ₹3,030 crore BHAVYA-Rasayan scheme to set up three chemical

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The Centre will provide grants of up to ₹1,000 crore for each chemical park, subject to a minimum ₹500 crore contribution from the respective state government.

By PTI

Updated - July 24, 2026 at 05:31 PM. | New Delhi

The Union Cabinet has approved the BHAVYA-Rasayan Scheme with an outlay of ₹3,030 crore to establish three dedicated chemical parks over the next five years. (A representative image)

The government on Friday announced a new scheme to set up three chemical parks in the country with an outlay of Rs 3,030 crore.

The Cabinet, chaired by Prime Minister Narendra Modi, has approved Bharat Audyogik Vikas Yojana Rasayan, or BHAVYA-Rasayan Scheme, to establish three dedicated chemical parks in the country, I&B Minister Ashwini Vaishnaw said.

The scheme, announced in the Union Budget of 2026–27 fiscal, will have a total financial outlay of Rs 3,030 crore.

Out of the total outlay, Rs 3,000 crore would be towards the cost of establishing the common infrastructure facilities and basic utilities inside the parks. The remaining Rs 30 crore will be for the administrative expenditure. The scheme would run for a period of 5 years from the current fiscal to 2030-31.

The minister said that the total investment for establishment of these three parks would be much higher and the Rs 3,030 crore support is for common infrastructure facilities.

Vaishnaw said that there are many sectors in the economy that are foundational and the chemical sector is one of them, as it provides basic raw materials for many other industries.

According to an official statement, the Centre would provide a grant of up to Rs 1,000 crore per park. This will be subject to the minimum contribution of Rs 500 crore by the concerned state government.

About the benefits, the government said the scheme will "promote development of the chemical industry along the whole value chains, including upstream, downstream and ancillary industries, promoting efficient utilisation of resources, leading to lower logistics cost".

Published on July 24, 2026

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