The Union Budget for which of the following years announced the issue of Sovereign Green Bonds to reduce the carbon intensity of the economy?
- A.2022-23
- B.2021-22
- C.2023-24
- D.2019-20
Correct answer
Explanation
The correct answer is A, 2022-23. The Finance Minister announced Sovereign Green Bonds in the Union Budget speech of 1 February 2022, as part of the government's overall market borrowing.
The money raised through these bonds goes only to public-sector projects that help reduce the carbon intensity of the economy, such as solar and wind power, clean transport and green hydrogen. The Ministry of Finance published the Sovereign Green Bonds Framework in November 2022, and the Reserve Bank of India, which manages government borrowing, auctioned the first tranche in January 2023. Investors usually accept a slightly lower yield on such bonds, a difference known as the "greenium". The step fits India's pledge at COP26 in Glasgow to reach net zero by 2070.
B is wrong: the 2021-22 Budget was the pandemic-recovery budget and did not announce green bonds.
C is wrong: by the 2023-24 Budget the bonds had already been designed and issued.
D is wrong: no sovereign green bond was announced in 2019-20.
Exam tip: Sovereign Green Bonds — announced in Budget 2022-23, framework November 2022, first RBI auction January 2023.
Practice Questions
View allConsider the following statements about the Rashtriya Gokul Mission :
I. It is important for the upliftment of rural poor as majority of low producing indigenous animals are with small and marginal farmers and landless labourers.
II. It was initiated to promote indigenous cattle and buffalo rearing and conservation in a scientific and holistic manner.
Which of the statements given above is/are correct?
- A.I only
- B.II only
- C.Both I and II
- D.Neither I nor II
Show answer
The Rashtriya Gokul Mission was launched to conserve and develop indigenous cattle and buffalo breeds scientifically, and it matters most to the small farmers and landless labourers who keep most of these animals.
Read the full explanation →Atal Innovation Mission is set up under the
- A.Department of Science and Technology
- B.Ministry of Labour and Employment
- C.NITI Aayog
- D.Ministry of Skill Development and Entrepreneurship
Show answer
The Atal Innovation Mission (AIM) was set up in 2016 by NITI Aayog as the Government of India's flagship programme to promote innovation and entrepreneurship.
Read the full explanation →Consider the following statements :
1. The Government of India provides Minimum Support Price for niger (Guizotia abyssinica) seeds.
2. Niger is cultivated as a Kharif crop.
3. Some tribal people in India use niger seed oil for cooking.
How many of the above statements are correct?
- A.Only one
- B.Only two
- C.All three
- D.None
Show answer
Nigerseed is one of the oilseeds covered by MSP, it is grown mainly in the kharif season, and tribal communities use its oil for cooking.
Read the full explanation →Why does the Government of India promote the use of 'Neem-coated Urea' in agriculture?
- A.Release of Neem oil in the soil increases nitrogen fixation by the soil microorganisms
- B.Neem coating slows down the rate of dissolution of urea in the soil
- C.Nitrous oxide, which is a greenhouse gas, is not at all released into atmosphere by crop fields
- D.It is a combination of a weedicide and a fertilizer for particular crops
Show answer
The neem layer releases nitrogen slowly, so crops take up more of it and less is lost. Plain urea dissolves fast and much of its nitrogen is lost by leaching into groundwater and as gases.
Read the full explanation →With reference to the 'Prohibition of Benami Property Transactions Act, 1988' (PBPT Act), consider the following statements :
1. A property transaction is not treated as a benami transaction if the owner of the property is not aware of the transaction.
2. Properties held benami are liable for confiscation by the Government.
3. The Act provides for three authorities for investigations but does not provide for any appellate mechanism.
Which of the statements given above is/are correct?
- A.1 only
- B.2 only
- C.1 and 3 only
- D.2 and 3 only
Show answer
Benami property can be confiscated by the Central Government, but the Act covers transactions the owner is unaware of and it does provide an appeal.
Read the full explanation →