Now Reading: Centre opens 4-month window for states to apply for 50 industrial parks under BHAVYA
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Centre opens 4-month window for states to apply for 50 industrial parks under BHAVYA
Centre opens 4-month window for states to apply for 50 industrial parks under BHAVYA
The Centre on Saturday opened a four-month window for states to submit applications to set up 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Applications for…
The Centre on Saturday opened a four-month window for states to submit applications to set up 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. Applications for 20 parks will be accepted in the first two months, and for another 30 in the subsequent two months. The remaining 50 parks will be approved in a second phase.
Commerce and Industry Minister Piyush Goyal said the scheme aims to develop plug-and-play industrial parks of 100 to 1,000 acres, with financial support of up to Rs one crore per acre for infrastructure. For hilly states, parks can be approved on 25 acres. Selection will be via a challenge method, with states providing land, water and power likely to attract investors. States such as Rajasthan, Maharashtra, West Bengal and Haryana are showing keen interest, Goyal said.
States can partner with private players, with the Centre providing Rs 50 lakh per acre in such cases. States must set up a special purpose vehicle, notify a planning authority and establish a single-window clearance mechanism. Goyal said the first 50 parks are expected to be operationalised within three years.
Indian Opinion Analysis
BHAVYA is the government's largest single push for industrial infrastructure, with each of the 100 parks designed as a ready-to-use plug-and-play facility. The scheme targets manufacturing, MSMEs and startups, aiming to reduce dependence on imported supply chains. States that already have land banks and clearances in place will gain an edge in the challenge method. The real test will be whether states can meet the three-year operationalisation deadline, given past delays in land acquisition and utility provision. Watch for which states submit applications in the first two months and the quality of land parcels offered.
Source: millenniumpost.in
This story was synthesised by AI from the source linked above.
