<p>Hyderabad: To strengthen domestic chemical manufacturing and cut import dependence, the Centre will launch a scheme supporting states in establishing three dedicated Chemical Parks via a challenge route on a cluster-based, plug-and-play model.</p><p>Presenting the 2026-27 Union Budget in the Lok Sabha on Sunday, Finance Minister <a href="https://www.deccanherald.com/ta">Nirmala Sitharaman</a> announced the parks to enhance chemical production capacity. Budget documents allocated Rs 600 crore for 2026–27—the first direct budgetary support for such infrastructure—amid rising domestic demand.</p>.Union Budget 2026: Govt eases compliance burden for individuals buying immovable properties from non-residents.<p>The scheme targets dedicated facilities to build manufacturing clusters, streamline operations, and attract investments.</p><p>The Budget also proposed Rs 20,000 crore over five years for Carbon Capture, Utilisation, and Storage (CCUS) technologies across five sectors of Chemicals, Power, Steel, Cement, and Refineries. As a green initiative, CCUS captures carbon dioxide for storage or reuse, preventing atmospheric emissions and aiding net-zero goals.</p><p>Additionally, a scheme will revive 200 legacy industrial clusters through infrastructure upgrades and technology interventions to boost cost competitiveness and efficiency—benefiting chemicals and petrochemicals. “Reviving and strengthening traditional industries is vital for accelerating economic growth, sustaining jobs, and preserving heritage,” Sitharaman said.</p>
<p>Hyderabad: To strengthen domestic chemical manufacturing and cut import dependence, the Centre will launch a scheme supporting states in establishing three dedicated Chemical Parks via a challenge route on a cluster-based, plug-and-play model.</p><p>Presenting the 2026-27 Union Budget in the Lok Sabha on Sunday, Finance Minister <a href="https://www.deccanherald.com/ta">Nirmala Sitharaman</a> announced the parks to enhance chemical production capacity. Budget documents allocated Rs 600 crore for 2026–27—the first direct budgetary support for such infrastructure—amid rising domestic demand.</p>.Union Budget 2026: Govt eases compliance burden for individuals buying immovable properties from non-residents.<p>The scheme targets dedicated facilities to build manufacturing clusters, streamline operations, and attract investments.</p><p>The Budget also proposed Rs 20,000 crore over five years for Carbon Capture, Utilisation, and Storage (CCUS) technologies across five sectors of Chemicals, Power, Steel, Cement, and Refineries. As a green initiative, CCUS captures carbon dioxide for storage or reuse, preventing atmospheric emissions and aiding net-zero goals.</p><p>Additionally, a scheme will revive 200 legacy industrial clusters through infrastructure upgrades and technology interventions to boost cost competitiveness and efficiency—benefiting chemicals and petrochemicals. “Reviving and strengthening traditional industries is vital for accelerating economic growth, sustaining jobs, and preserving heritage,” Sitharaman said.</p>