Mumbai, Dec 2 – The NMC Clean Godavari Bonds of Nashik Municipal Corporation went live on Tuesday at the National Stock Exchange when Chief Minister Devendra Fadnavis rang the opening bell.
Fadnavis added that, alongside Pune Municipal Corporation and Pimpri‑Chinchwad Municipal Corporation, Nashik Municipal Corporation is now part of the municipal‑bond ecosystem. “Once the bond is issued, the corporation will receive an incentive of nearly Rs 26 crore, and it can also tap the central government’s Urban Challenge Fund,” he said. “The fact that the bond has been subscribed more than four‑times is truly encouraging for Nashik.”
He also noted that state law recognizes at least fifteen municipal bodies capable of participating in the bond market, provided they meet review standards and obtain proper ratings. During the Simhastha Kumbh Mela celebrations, the Maharashtra government has undertaken a range of projects that preserve the event’s sanctity.
“Prime Minister Narendra Modi has enshrined the mantra ‘Development as well as Heritage,’ and the upcoming 2027 Simhastha Kumbh Mela exemplifies that vision,” Fadnavis said. “Through this event the state will accelerate development, including the Clean Godavari program, ensuring only treated water flows into the river.”
He highlighted Nashik’s deep ties to the Ramayana, as Lord Shri Ram spent much of his exile there. Consequently, the city’s municipal corporation will play a pivotal role in organizing the Simhastha Kumbh Mela. “Against the backdrop of the Kumbh Mela, Nashik Municipal Corporation is leading major infrastructure improvements,” he added, noting the area’s importance in the Ramayana stories and the ongoing clean‑river initiatives.
In a separate remark, Fadnavis said that the National Stock Exchange will facilitate sizable funding for key power-sector companies. “The first phase will list leading power firms—MSETCL, Mahavitaran, and Mahanirmiti—leveraging the exchange’s expertise to enhance their financial capabilities,” he explained.
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