NMC proposal gets State nod

NASHIK, MARCH 17: The State Government has approved a proposal submitted by the Nashik Municipal Corporation NMC to raise Rs 100 crore through bonds to finance various civic works in the city.

Of the Rs 100 crore to be raised through bonds, which will be floated within two months, Rs 60 crore will be spent on water supply projects, Rs 20 crore to create an underground drainage and sewerage network and Rs 20 crore on constructing flyovers and roads.

NMC Chief Accountant D W Gawle said the Government8217;s clearance came on Tuesday and only the formalities remained to be carried out.

The NMC has undertaken various projects like the Gangapur dam pipeline scheme, the underground sewerage system, the Kashyapi dam and flyovers at various traffic junctions in the city.