Last Updated on March 18, 2026 9:13 pm by INDIAN AWAAZ
Approves MSP Support for Cotton Farmers
Andalib Akhter
The Union Cabinet has approved the Bharat Audyogik Vikas Yojana (BHAVYA), a major initiative aimed at boosting India’s manufacturing sector through the development of 100 plug-and-play industrial parks. The scheme carries a total outlay of ₹33,660 crore.
Addressing the media in New Delhi, Information and Broadcasting Minister Ashwini Vaishnaw said the initiative will create world-class industrial infrastructure, unlock manufacturing potential, and accelerate economic growth. The planned industrial parks will span 100 to 1,000 acres, with government support of up to ₹1 crore per acre.
In a parallel move to strengthen farmer welfare, the Cabinet also approved over ₹1,718 crore in Minimum Support Price (MSP) funding for the Cotton Corporation of India for the 2023–24 cotton season. The funding is intended to provide direct price support to cotton farmers, particularly when market prices fall below MSP levels, ensuring protection of their incomes
The Cabinet also approved the Small Hydro Power Development Scheme for the period of 2026-27 to 2030-31 with an outlay of more than two thousand 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 incentivise the states to prepare the detailed project report for about 200 projects to create a pipeline of small hydro projects in future.
The Cabinet has approved the construction of over 101 km long four-lane access-controlled National Highway-927 from Barabanki to Bahraich in Uttar Pradesh at a cost of more than six thousand 969 crore rupees. The Minister said, the project provides seamless connectivity to key economic, social, and logistics nodes across Uttar Pradesh.