The Union Cabinet approved the Bharat Industrial Development Scheme (BHAVYA) to develop 100 plug-and-play industrial parks with an allocation of ₹33,660 crore. Speaking to the 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, unlock manufacturing potential, and drive the country's growth story. He stated that industrial parks ranging from 100 to 1000 acres will be developed with support of up to ₹1 crore 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 to the Cotton Corporation of India for the 2023-24 cotton season. The Minister said that this funding aims to provide direct price support to cotton farmers across the country. Mr. Vaishnaw stated that 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 over ₹2,584 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 incentivize states to prepare detailed project reports for about 200 projects to create a pipeline of small hydro projects in the future.