Bharat Audyogik Vikas Yojna (BHAVYA)
Why in News?
The Bharat Audyogik Vikas Yojna (BHAVYA) is recently approved by Prime Minister Narendra Modi with a massive outlay of ₹33,660 crore It aims to transform India into a global manufacturing hub by developing 100 plug-and-play industrial parks across the country.
Key Features
- Plug-and-Play Model: Provides pre-approved land with ready-to-use utilities (power, water, waste management) so businesses can start operations without traditional setup delays.
- Financial Support:
- The Central Government provides up to ₹1 crore per acre for developing core and social infrastructure.
- Funding covers up to 25% of the cost for external connectivity infrastructure.
- Park Specifications:
- General parks will range from 100 to 1,000 acres.
- In North Eastern and hilly regions, the minimum size is reduced to 25 acres to accommodate geographic constraints.
- Selection via "Challenge Mode": Projects will be selected through a competitive process based on evaluation criteria like PM GatiShakti principles, green energy adoption, and state-led ease of doing business reforms.
- Infrastructure Scope:
- Core: Internal roads, drainage, and common treatment facilities.
- Value-Added: Ready-built factory sheds, testing labs, and warehousing.
- Social: Worker housing and essential amenities to support the local workforce.
- Implementation Partners: Developed through a partnership between the Centre, State Governments, Central PSUs, and private players.
- Regulatory Ease: Includes a single-window clearance system to cut bureaucratic hurdles and speed up project execution.
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