RAS question
The Sovereign Green Bond was first issued by India in:
Correct answer: (B) 2023.
India first issued Sovereign Green Bonds in January 2023, raising Rs 8,000 crore through Government of India green bond securities.
Explanation
The year is 2023 because India's first Sovereign Green Bond issue took place in January 2023. The Reserve Bank of India release records that the Government of India announced the sale, or issue, of Sovereign Green Bonds for Rs 8,000 crore through an auction to be held on January 25, 2023. The notified amount was split across two new Government of India SGrB securities, Rs 4,000 crore each for 2028 and 2033 maturities. The proceeds fund public sector projects in renewable energy, energy efficiency, clean transportation and other green activities. So the exam point is both the date and the instrument's green public-finance use.
Why the other options are wrong
- (A) 2024 is too late because the first issue was already announced for auction in January 2023.
- (C) 2020 is too early because India's first Sovereign Green Bond issue took place in January 2023.
- (D) 2021 predates the issue, as the RBI release records the Government of India Sovereign Green Bond sale for January 25, 2023.
Concept
This tests green finance under Indian Economy, especially sovereign borrowing instruments linked to environmentally focused public spending. It recurs in RAS because the fact combines a recent policy instrument, a precise year and the use of proceeds.