Finance Ministry: Government can raise Rs 16000 crore through green bonds, which will get final approval soon

The central government may soon issue sovereign green bonds. The Finance Ministry has finalized its framework according to the global standard. Rs 16,000 crore can be raised by issuing green bonds between October and March in the second half of the current financial year 2022-23. This is a part of the borrowing program for the second half. It was announced in this year's budget.

Sources said the roadmap is ready. It will be approved soon. It will be deployed in those government sector projects, which help in reducing carbon emissions in the economy. Through this, the government aims to woo foreign investors. Right now many domestic and foreign investors want to invest in bonds.

GDP to grow at a slow pace of 5.5% in 2023-24: UBS India

India's economic growth rate may slow down to 5.5 percent in 2023-24. It is estimated to be 6.9 percent in the current financial year 2022-23. Economists at UBS India said the slowdown in global growth and tighter monetary policies will reduce the pace of domestic GDP. According to the report, India will be one of the 'less affected economies in the world. Yet the fifth largest economy will not survive global adversities.

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