The Union Cabinet has approved the Bharat Audyogik Vikas Yojana (BHAVYA), a Rs 33,660 crore central sector scheme to develop 100 investment-ready plug-and-play industrial parks across the country, in a move aimed at accelerating manufacturing growth and employment generation.The scheme will be implemented over a six-year period from FY 2026-27 to FY 2031-32, with industrial clusters planned near urban centres to improve connectivity and investor access. The government will provide financial support of up to Rs 1 crore per acre for park development.Projects under BHAVYA will be undertaken in partnership with state governments, central public sector undertakings and private developers, and will be selected through a challenge-mode process, according to official details.The industrial clusters will incorporate underground utility corridors, green-energy integration and logistics planning aligned with PM GatiShakti principles, while also focusing on ease-of-doing-business reforms to create globally competitive industrial ecosystems.The initiative is expected to facilitate the creation of around 34,000 acres of investment-ready industrial land at competitive rates. Eligibility norms prescribe a minimum park size of 100 acres, with relaxation to 25 acres in northeastern and hilly regions.The government expects the programme to support Atmanirbhar Bharat and Make in India goals, while generating significant employment opportunities for youth through expansion of industrial capacity.