Union Cabinet of India has approved the Bharat Audyogik Vikas Yojna

Union Cabinet of India has approved the Bharat Audyogik Vikas Yojna

¨     Union Cabinet of India has approved the Bharat Audyogik Vikas Yojna.

¨     The objective of this scheme is to boost industrial growth.

¨     A total allocation of approximately ₹33,660 crore has been made for this scheme.

¨  Under this initiative, there are plans to establish 100 'plug-and-play' industrial parks.

¨     These parks will provide ready-to-use infrastructure for industries.

¨     They are expected to enhance the country's manufacturing capacity.

¨     This initiative will foster overall economic growth.

¨     Ashwini Vaishnaw stated that these parks would be world-class in terms of quality.

¨     Each park will span an area ranging from 100 to 1,000 acres.

¨     The government will provide assistance of up to ₹1 crore per acre.

¨     The Cabinet has also approved MSP funding exceeding ₹1,718 crore.

¨     This amount will be disbursed to the 'Cotton Corporation of India'.

¨     This assistance is intended for the 2023-24 cotton season.

¨     Its aim is to provide direct price support to farmers.

¨     This assistance will come into effect when market prices fall below the MSP.

¨     The objective of this measure is to safeguard the interests of cotton farmers.