The Maharashtra government today decided to hold the Republic Day function at Marine Drive, instead of Shivaji Park from this year.
Chief Minister Prithviraj Chavan told reporters that conducting the function in the country's financial capital on the lines of the one at Rajpath in New Delhi was being considered for a long time.
"There will be parade of air force contingents and colourful floats from different parts of the state," he said.
Chavan said a cash prize of Rs 50 lakh will be given to the best float. Second prize will be Rs 25 lakh and third prize will be Rs 15 lakh.
The C-shaped road, popularly known as the Queen's Necklace Road, links Nariman Point to Babulnath and Malabar Hill in South Mumbai.
