The Centre will borrow Rs 6.55 lakh crore via government securities in the second half of this fiscal.
Decks have been cleared to issue a 50-year security for the first time, while Rs 20,000 crore will be raised through sovereign green bonds.
The Centre had previously issued a 40-year bond for the first time on October 26, 2015.
The finance ministry said in response to market demand for ultra-long duration securities, it has been decided to offer a new dated security of 50-year tenor.
According to the issuance calendar, it will raise Rs 30,000 crore through these bonds.
The first auction will be for Rs 10,000 crore between October 30 and November 30; the second and third of equal amounts between December 11 and December 15 and January 22 to January 26, respectively.
The government had proposed to raise Rs 15.43 lakh crore through market borrowings in the current fiscal year.
The borrowing target for the first half was set at Rs 8.88 lakh crore, which was 57.55 per cent of the gross market borrowing for the year.
The borrowing plan for the second half will be completed in 20 weekly auctions.
While 3-year papers will make up 6.11 per cent of the borrowing, 5-year papers will make up 11.45 per cent of the sum and 7-year, 9.16 per cent.
The Centre will raise 22.90 per cent of the target through the benchmark 10-year paper and 15.27 per cent in 14-year paper.
It will raise 12.21 per cent in 30-year tenure and 18.32 per cent of the sum in 40-year paper.
Around 4.58 per cent of the sum will be raised in 50-year paper.
The government added that will it continue to exercise the greenshoe option to retain an additional subscription of up to Rs 2,000 crore against each of the securities indicated in the auction notification.
The last auction will be held between February 12 and 16, 2024 for Rs 22,000 crore.
While the government's borrowing plan in the second half of the fiscal is in line with estimates, it comes on the heels of Indian government bonds being added to JP Morgan’s emerging markets index next year.