New Delhi: The Union Cabinet on Wednesday approved a slew of major infrastructure, energy and agriculture initiatives, headlined by the ₹33,660-crore Bharat Audyogik Vikas Yojana (BHAVYA) aimed at accelerating industrial growth and job creation across the country.
Chaired by Prime Minister Narendra Modi, the Cabinet cleared the scheme to develop 100 plug-and-play industrial parks over six years, with 50 to be taken up in the first phase. Briefing reporters, Union Minister Ashwini Vaishnaw said the initiative would create world-class infrastructure, reduce entry barriers for investors and generate around 15 lakh direct jobs.
The parks, spread across 100 to 1,000 acres, will feature ready-built factory spaces, testing labs, warehousing and worker housing, along with core infrastructure such as roads, utilities and digital systems. The scheme will be implemented in partnership with states and private players, with project selection through a competitive challenge mode to ensure investment-ready proposals.
In another key decision, the Cabinet approved a ₹2,585-crore Small Hydro Power Development Scheme to add about 1,500 MW capacity over five years. The scheme will provide financial assistance of up to 30 per cent of project cost in hilly and northeastern regions, and is expected to attract ₹15,000 crore in investments while promoting clean energy and rural development.
Boosting connectivity, the Cabinet Committee on Economic Affairs cleared the ₹6,969-crore construction of a 101-km four-lane access-controlled National Highway-927 between Barabanki and Bahraich in Uttar Pradesh. The project will reduce travel time to about an hour, improve road safety and strengthen trade links, including cross-border connectivity with Nepal.
The government also approved ₹1,718.56 crore in funding support to the Cotton Corporation of India for minimum support price (MSP) operations for the 2023–24 cotton season, ensuring price stability and income support for farmers.
Officials said the combined decisions reflect a multi-pronged push to boost manufacturing, strengthen infrastructure, promote clean energy and support agriculture, while advancing the vision of self-reliance and sustained economic growth.