The Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan scheme on July 24, 2026, allocating Rs 3,030 crore over five years to develop chemical parks. The scheme, announced in the 2026-27 budget and chaired by Prime Minister Narendra Modi, directs most funds to infrastructure while projecting substantial private investment. Two sources confirm core details, with one unverified claim on per-park central funding limits.