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In response to the expenditure plan ready by the finance ministry for the present monetary 12 months, the funds raised by way of such bonds can be used to finance inexperienced tasks price ₹23,764 crore, he stated.
On condition that the funds raised should be used strictly for inexperienced tasks, the spending can be saved greater than the precise borrowing to assuage any apprehensions about potential misuse of such funds, officers had instructed ET earlier.
The federal government might borrow ₹20,000-22,000 crore by way of such inexperienced bonds on this monetary 12 months, they’d stated. To make certain, the federal government’s general annual budgetary spending on inexperienced tasks reducing throughout sectors can be manner above this degree.
However such expenditures will not be strictly segregated and categorised on the premise of the environment-friendly nature of the tasks.
Nevertheless, because the authorities raised funds by way of inexperienced bonds final fiscal, it needed to formally establish sure inexperienced tasks to be funded by such proceeds. About half of the inexperienced bond proceeds are anticipated to be deployed in railways in 2023-24, adopted by tasks in new and renewable vitality (32%), housing and concrete affairs (15%), setting and local weather change (1%) and others, in response to the expenditure profile firmed up for this fiscal. Railways, new and renewable vitality, and housing and concrete affairs, too, accounted for a big chunk of the expenditure funded by way of the inexperienced bond proceeds in 2022-23. A ultimate announcement on the precise borrowing measurement by way of inexperienced bonds for 2023-24 can be declared in September, when the federal government declares its borrowing plans for the second half of this fiscal.
