The Union budget may propose to issue sovereign green bonds worth at least ₹20,000 crore as part of the borrowing programme for fiscal year 2025 (FY25), two people aware of the matter said. A large chunk of these bonds may be sold in the second half of the next fiscal year, one of the two people said.
Green bonds address the funding requirements for projects in solar, wind and hydropower sectors. With several financially viable projects in the public sector in the pipeline, policymakers feel that funds raised through this route will be easily utilised.
The Union budget for FY24 did not mention sovereign green bonds. However, the government later included a phased 20,000 crore green bond plan for the second half of the borrowing calendar. Of this, bonds of 5,000 crore with a tenure of five years were sold in November 2023, and 10,000.
crore worth of bonds with a tenure of 30 years in two tranches of 5,000 crore each are expected across January and February 2024; bonds worth another 5,000 crore are expected by March.
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