Central Cabinet approves New Era of Industrial Development through Bharat Audyogik Vikas Yojna

New Delhi:The Union Cabinet approved Bharat Audyogik Vikas Yojna (BHAVYA) to develop 100 plug-and-play industrial parks with an allocation of 33 thousand 660 crore rupees. Briefing media in New Delhi after the cabinet meeting, Information and Broadcasting Minister Ashwini Vaishnaw said that the Scheme aims to develop world-class industrial infrastructure, unlocking manufacturing potential and driving the country’s growth story. He said that Industrial parks of 100 to 1000 acres will be developed with support of up to one crore rupees per acre.
In a significant step towards strengthening farmer welfare and advancing the vision of Aatmanirbhar Bharat, the Cabinet approved MSP funding of over 1,718 crore rupees to the Cotton Corporation of India for the cotton season 2023-24. The Minister said that this funding aims to provide direct price support to cotton farmers across the country. Mr Vaishnaw said the MSP operations are undertaken to safeguard the interests of cotton farmers, particularly during periods when market prices fall below the MSP.
The Cabinet also approved the Small Hydro Power Development Scheme for the period of 2026-27 to 2030-31 with an outlay of more than two thousand 584 crore for the installation of Small Hydro Power (SHP) Projects of an approximate capacity of 1500 MW. Mr Vaishnaw said that the scheme will also incentivise the states to prepare the detailed project report for about 200 projects to create a pipeline of small hydro projects in future.
The Cabinet has approved the construction of over 101 km long four-lane access-controlled National Highway-927 from Barabanki to Bahraich in Uttar Pradesh at a cost of more than six thousand 969 crore rupees. The Minister said, the project provides seamless connectivity to key economic, social, and logistics nodes across Uttar Pradesh.