States get 4 months to submit bids for setting up the first 50 industrial parks

Anand Kumar
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Anand Kumar
Anand Kumar
Senior Journalist Editor
Anand Kumar is a Senior Journalist at Global India Broadcast News, covering national affairs, education, and digital media. He focuses on fact-based reporting and in-depth analysis...
- Senior Journalist Editor
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States get 4 months to submit bids for setting up the first 50 industrial parks

New Delhi: The government on Saturday said it has opened a four-month window for states to apply for setting up the first 50 industrial parks under the Rs 33,660-crore Bharat Audiogik Vikas Yojna (Bhavya) scheme.Over a period of six years, starting from the current fiscal year, the scheme envisages the establishment of 100 industrial zones across the country, of which 20 will be established in the first round, followed by another 30. Commerce and Industry Minister Piyush Goyal said the parks will be selected through a competitive, challenge-based selection process, and incentives may be offered to those looking to set up the parks ahead of schedule.Under the scheme, industrial areas ranging from 100 to 1,000 acres will be allocated for development, the minister said, adding that financial support amounting to Rs 1 lakh crore per acre will be provided for infrastructure development. For hilly states, Goyal said, a park could also be approved on 25 acres of land, with some possible concessions to parks that came up in erstwhile Naxal belts.

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Anand Kumar
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Anand Kumar is a Senior Journalist at Global India Broadcast News, covering national affairs, education, and digital media. He focuses on fact-based reporting and in-depth analysis of current events.
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