Now Reading: Centre opens four-month window for states to apply for 50 industrial parks
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Centre opens four-month window for states to apply for 50 industrial parks
Centre opens four-month window for states to apply for 50 industrial parks
The Centre has opened a four-month window for states to apply for 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Commerce Minister Piyush Goyal said 20…
The Story in Brief
The Centre has opened a four-month window for states to apply for 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Commerce Minister Piyush Goyal said 20 parks will be invited in the first two months and 30 in the next two months. The scheme, approved by the Cabinet in March, aims to develop 100 plug-and-play parks across the country. Financial support of up to Rs 1 crore per acre will be provided, with hilly states eligible for parks on 25 acres. Selection will use a challenge method, with states offering better facilities likely to attract investors. Separately, the Centre has notified the BHAVYA Rasayan scheme, a Rs 3,030 crore programme to set up three greenfield chemical parks. Each park must have at least 2,000 contiguous acres, and the Centre will provide up to Rs 1,000 crore per park, with states contributing at least Rs 500 crore.
The Indian Opinion
The government's deadline-driven 'challenge method' for allocating parks is a smart pressure tactic, but the real test will be whether states cut red tape fast enough to attract investors. Piyush Goyal's claim of keen interest from Rajasthan, Maharashtra, West Bengal, and Haryana is unverifiable until applications close. Watch out: the first phase requires a state-run special purpose vehicle and single-window clearance. Will states with shaky land records or power shortages actually manage this? The number of credible proposals submitted in four months will separate serious reforms from photo-ops.
Sources (2): millenniumpost.in, timesofindia.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
