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Q23 (CAPF/2025) Economy › Government Finance & Budget › Government debt management Answer Verified

The Union Budget for which of the following years announced the issue of Sovereign Green Bonds to reduce the carbon intensity of the economy?

Result
Your answer: —  Â·  Correct: A
Explanation

The Union Budget 2022-23, presented by Finance Minister Nirmala Sitharaman, announced the issuance of Sovereign Green Bonds as part of the government's overall market borrowing program [3]. The primary objective of these bonds is to mobilize resources for green infrastructure and public sector projects that assist in reducing the carbon intensity of the Indian economy [1]. This initiative aligns with India's commitments under the 'Panchamrit' targets and the Paris Agreement to achieve net-zero emissions by 2070 [3]. Following the announcement, the first tranche of these bonds was issued in January 2023, followed by a second tranche in February 2023 [4]. These bonds are classified as 'specified securities' under the Fully Accessible Route (FAR), allowing for significant foreign investment to support sustainable development.

Sources

  1. [1] https://dea.gov.in/files/policy_and_guidelines_document/FrameworkSovereignGreenBonds.pdf
  2. [3] https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1885728
  3. [4] https://blogs.worldbank.org/en/climatechange/india-incorporates-green-bonds-its-climate-finance-strategy
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