Now Reading: Centre opens 4-month window for 50 industrial park bids
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Centre opens 4-month window for 50 industrial park bids
The Centre on Saturday opened a four-month window for states to submit applications for 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Commerce and Industry Minister…
The Story in Brief
The Centre on Saturday opened a four-month window for states to submit applications for 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Commerce and Industry Minister Piyush Goyal said 20 parks will be accepted in the first two months, followed by 30 in the next two. These 50 form the first phase; the remaining 50 will be approved later.
Selection will be through a “challenge method”, rewarding states that offer better land, water and power. Financial support of up to Rs 1 crore per acre will be provided for infrastructure, and Rs 50 lakh per acre for proposals where states partner with private players. Parks will range from 100 to 1,000 acres, with hilly states allowed parks on as little as 25 acres. States must set up a special purpose vehicle (SPV), notify a planning authority and create a single-window clearance mechanism. Goyal said Rajasthan, Maharashtra, West Bengal and Haryana have shown keen interest.
The Indian Opinion
The BHAVYA scheme sounds promising on paper, but similar central infrastructure initiatives have often stumbled on state-level land acquisition and bureaucratic delays. The 'challenge method' may push states to compete, but it could also widen the gap between industrially advanced and lagging states. The real test will be whether states actually set up functional SPVs and single-window clearances within the four-month window, or if the process gets mired in inter-ministerial wrangling.
Source: millenniumpost.in
This story was synthesised by AI from the source linked above.
