Archive · 18 Aug 2025
Nashik Civic Body to Raise Funds via Bonds for Kumbh Mela
The Nashik city government is getting ready to host a big religious festival called the Simhastha Kumbh Mela.
To pay for the event, they're going to borrow money.
They'll get Rs 400 crore by selling bonds, which are like IOUs.
This money will cover about a quarter of all the costs.
They initially planned to get the money differently, but they changed their mind.
Now they're working on a plan that includes loans and bonds.
The city has a large overall budget for the event, and the government is waiting for approval to start spending.
Nashik Municipal Corporation (NMC) plans to raise Rs 400 crore via bonds for the Simhastha Kumbh Mela.
The funds will cover 25% of the total expenditure for the event.
The NMC initially planned to raise Rs 200 crore through green bonds, but the plan was revised.
The final decision involves a direct loan and bonds to raise the required amount.
A plan of Rs 24,000 crore is awaiting approval, including Simhastha-related works.
- Who
- The Nashik Municipal Corporation.
- What
- The Nashik Municipal Corporation is raising Rs 400 crore through bonds to fund the Simhastha Kumbh Mela.
- When
- The Simhastha Kumbh Mela is upcoming.
- Where
- Nashik, India.
- Why
- To meet 25% of the development costs for the Simhastha Kumbh Mela.
- Funding Amount
- Rs 400 crore
- Funding Method
- Bonds
- Purpose
- Simhastha Kumbh Mela
- NMC Contribution
- 25% of development costs
- Total Plan
- Rs 24,000 crore