The Government of India, as part of its overall market borrowings, will be issuing sovereign green bonds to mobilise resources for green infrastructure, as announced in the Union Budget 2022-23. The sovereign green bonds will be issued in two tranches of Rs 80 billion each. Each tranche will include Rs 40 billion worth of five-year sovereign green bonds and
Rs 40 billion worth of 10-year sovereign green bonds. The proceeds will be deployed in public sector projects that will help reduce the carbon intensity of the economy. Accordingly, it was notified in the half-yearly issuance calendar for marketable dated securities for the second half of 2022-23 that sovereign green bonds for an aggregate amount of Rs 160 billion would be issued.