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
More Economy notes
- Govt clears ₹28,840 crore revamped UDAN scheme; offers support for airport operations, shifts airline subsidy burden to exchequer · 25 March 2026
- Income Tax Act 2025 cash rules explained: What are the key changes proposed? · 25 March 2026
- Private sector growth hits 3.5-year low in March · 24 March 2026
- Assembly Elections LIVE updates: ECI approves transfer of returning officers for West Bengal polls · 24 March 2026
- 10-year yield sees steepest one-day jump since Oct 2023 · 24 March 2026
- Sebi approves tighter conflict code, easier FPI settlement plan · 24 March 2026
Something wrong, or something missing?
Spotted a mistake in a note, or want a topic, format or PDF that would help your preparation? Write to us. We read every mail and fix errors fast.
This note is generated automatically from SatyaDheesh's news feed and mapped to the UPSC CSE syllabus. Check facts against the original report or PIB before using them in an answer.