Page 8 - NIS English 16-31 Aug, 2026

UNION CABINET DECISIONS

Approval for ‘Bhavya-Rasayan’

Scheme and Continuation of

PM-Kisan Scheme

The central government is committed to making the country a global leader in the field
of chemical manufacturing. To this end, the Union Cabinet has approved the ‘Bhavya-
Rasayan’ scheme, a significant step towards strengthening the nation’s chemical and
petrochemical ecosystem. Additionally, approval has been granted for the continuation
of the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme from 2026-27 to 2030-31,
alongside several other key proposals...

DECISION: The Union Cabinet approved the DECISION: Approval granted to continue the
Bharat Audyogik Vikas Yojana Rasayan, or Pradhan Mantri Kisan Samman Nidhi (PM-KI-
BHAVYA-Rasayan Scheme, for establishing three SAN) scheme from 2026-27 to 2030-31.
dedicated chemical parks in the country. IMPACT: Assistance provided under the
IMPACT: This scheme was announced in the Union PM-KISAN scheme helps farmers make timely
Budget for the 2026-27 financial year. An allocation investments in seeds, fertilizers, irrigation,
of ₹3,030 crore will be made for the scheme. It will agricultural machinery, and other farming
remain in effect for five years, from the 2026-27 needs. This has enhanced farmers’ production
financial year to the 2030-31 financial year. capacity, reduced their reliance on informal
n It will foster the holistic development of upstream, credit, and strengthened the economic stability
downstream, and ancillary industries within the of rural households.
chemical sector’s value chain.
n A total financial allocation of ₹3.15 lakh crore
n Competitiveness in production costs will improve, has been approved.
making the Indian chemical industry more n Under the scheme, eligible landholding farmer
competitive on the global stage. families receive financial assistance of ₹6,000
n The Indian chemical industry will achieve better per year, transferred directly to their bank
integration with global value chains; exports will be accounts in three equal installments.
boosted, and dependence on imports reduced.
n So far, an amount exceeding ₹4.47 lakh crore
n Sustainable industrial growth will be promoted has been transferred directly to farmers’ bank
through an eco-friendly industrial ecosystem. accounts across 23 installments.

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6 NEW INDIA SAMACHAR || Aug 16-31, 2026 briefing on the Cabinet’s decisions. briefing on the Cabinet’s decisions.