Despite subdued demand in the first half, the government will borrow ₹20,000 crore through sovereign green bonds (SGrBs).
“Out of gross market borrowing of ₹14.01 trillion budgeted for 2024-25, ₹6.61 trillion (47.2 per cent) is planned to be borrowed in H2 through issuance of dated securities, including ₹20,000 crore of Sovereign Green Bonds (SGrBs),” the finance ministry said in a statement on Thursday.
As the bond market was expecting an adjustment across tenure, it led to the fall in yields on the benchmark bond to more than a two-and-a-half-year low on Thursday. The benchmark yield settled at 6.72 per cent, lowest since February 21, 2022.
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