Cabinet approves ₹33,660 crore BHAVYA scheme to accelerate industrial development
GS3Economy · S&T · Environment · Security· Industry, investment & MSMEs· Prelims + Mains·
Why in news
The Union Cabinet approved the Bharat Audyogik Vikas Yojna (BHAVYA) to develop 100 plug-and-play industrial parks to unlock manufacturing potential.
Background
The BHAVYA scheme involves an outlay of ₹33,660 crore for 100 industrial parks. It provides financial support of up to ₹1 crore per acre for parks sized between 100 and 1,000 acres.
Facts for Prelims
- SchemeBHAVYA: Bharat Audyogik Vikas Yojna
- FactTotal outlay for BHAVYA scheme is ₹33,660 crore
- FactTarget is to develop 100 plug-and-play industrial parks
- FactFinancial support provided is up to ₹1 crore per acre
- FactTargeted job creation is approximately 15 lakh direct jobs
For Mains
Q. Discuss how the development of plug-and-play industrial parks can accelerate India's manufacturing capabilities and address large-scale employment challenges.
Dimensions to cover in your answer
- Infrastructure bottleneck: Reducing gestation periods for MSMEs through ready-to-use industrial infrastructure
- Employment multiplier: Linking industrial park development with direct job creation and local skill development
- Fiscal efficiency: Leveraging per-acre financial support to attract private investment in manufacturing
Keywords: Plug-and-play infrastructure · Manufacturing potential · Job creation · Industrial development · Capital outlay
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