The municipal administration has proposed a combination of Clean Godavari Municipal Bonds and Green Bonds, each worth Rs 200 crore, to facilitate preparations for the massive religious gathering that takes place every 12 years on the banks of the Godavari River
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The Nashik Municipal Corporation (NMC) has announced plans to raise Rs 400 crore through municipal bonds to generate its required share of funding for large-scale infrastructure and civic projects ahead of the Simhastha Kumbh Mela scheduled in 2027. The municipal administration has proposed a combination of Clean Godavari Municipal Bonds and Green Bonds, each worth Rs 200 crore, to facilitate preparations for the massive religious gathering that takes place every 12 years on the banks of the Godavari River, reported news agency IANS.
Municipal Commissioner Manisha Khatri, while outlining the fundraising plan on Wednesday, said the bond issuance is a crucial step for the city as it accelerates preparations for the upcoming Kumbh festivities. The announcement comes a day before Deputy Chief Minister and Urban Development Minister Eknath Shinde’s visit to Nashik, during which he is expected to inaugurate several projects linked to the 2027 event.
Explaining the utilisation of the funds, Khatri said the Rs 200 crore raised through the Clean Godavari Municipal Bonds will specifically support the construction and upgrading of sewage treatment plants targeted at improving water quality in the Godavari River and the iconic Ramkund area. The Green Bonds, also valued at ₹200 crore, are earmarked for new and upgraded water supply schemes aimed at strengthening the city’s core civic infrastructure. Khatri added that the Clean Godavari Bonds are expected to be launched in the financial markets by the end of November, reported IANS.
A key benefit of opting for municipal bonds, she highlighted, is the availability of incentive funding under schemes such as the AMRUT Incentive Award and the Urban Challenge Fund. These incentives, estimated at around Rs 76 crore per bond, will help offset the interest payable on the bonds over a period of five to seven years. As a result, the borrowing will effectively be interest-free for the civic body, significantly reducing financial pressure on government resources. For additional infrastructure such as exhibition centres and truck terminals, the NMC plans to pursue public-private partnership models.
The bond issuance comes as Nashik has proposed a massive Rs 15,000-crore plan to the state government for long-term development geared toward the 2027 Simhastha Kumbh Mela. Of this, the civic body must contribute approximately 25 per cent, with its share estimated at around Rs 1,000 crore, considering the focus on permanent infrastructure. Khatri noted that during the previous Kumbh Mela, the corporation had borrowed Rs 350 crore to bridge funding gaps, reported IANS.
Meanwhile, Maharashtra Chief Minister Devendra Fadnavis has called for all Kumbh-related projects to be executed with speed, quality and accountability. At a review meeting of the Nashik–Trimbakeshwar Kumbh preparations, he emphasised that the event is a reflection of India’s cultural and spiritual heritage and must be supported by robust civic planning. He directed officials to ensure that the Godavari River and the Ramkund remain clean throughout the duration of the Kumbh, with sewage management works prioritised.
Fadnavis also instructed authorities to fast-track the long-pending Nashik ring road project, reiterating that delays would not be tolerated. In addition, he urged departments to expedite land acquisition for the proposed Sadhu Village or Tent City, and to improve facilities at airports, railway stations and other public touchpoints. He further called for a centralised CCTV monitoring system, increased use of artificial intelligence to bolster law and order, and timely arrangements for police accommodations during the event.
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