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.