Gujarat’s first green bond, issued by the Surat Municipal Corporation (SMC), will be listed on the National Stock Exchange (NSE) on October 16, the state government announced on Monday.

The initiative aligns with Prime Minister Narendra Modi’s vision of achieving net-zero emissions by 2070, said Shalini Agarwal, Municipal Commissioner of SMC.

“These green municipal bonds were open for subscription between October 6 and 9. The issue size was Rs 200 crore, and it was oversubscribed eight times,” Agarwal told IANS.

According to the Municipal Commissioner, the central government has introduced several reforms to encourage innovative municipal financing, including green bonds, to support environmentally sustainable urban projects.

“This is the country’s first green bond to be issued with an

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