The festival got a clearance from the National Green Tribunal (NGT) this week.
The NGT imposed a fine of Rs. 5 crore on the Art of Living Foundation as environmental damage cost for holding a cultural festival.
The NGT while imposing fine has permitted the Foundation to go ahead with its festival on the Yamuna flood plains here.
The Tribunal will mention an additional fine later, reports said.
Sri Sri Ravi Shankar has said he will go to jail but not pay the fine.
The spiritual guru told NDTV: "We have not done anything wrong...we will go to jail but not pay a penny."
According to the Art of Living Foundation website: "The World Culture Festival 2016 is a celebration of The Art of Living's 35 years of service to humanity, spirituality and human values. It will take place on March 11-13, 2016 in New Delhi, India. The festival will celebrate the diversity in cultures from across the world while simultaneously highlighting our unity as a human family."
The Opposition on Wednesday put the government on the mat in Parliament over the issue of spiritual guru Sri Sri Ravi Shankar's mega cultural event.The Art of Living founder urged parties to not politicise it.
Leading the attack, Communist Party of India-Marxist (CPI-M) Rajya Sabha member Sitram Yechury said it is "highly irregular that army has been summoned to assist in a private event" as he referred to pontoon bridges being built by the defence men.
"Can it be done," asked Yechury.
Janata Dal (United) leader Sharad Yadav said the government should immediately stop the programme.
Congress lawmaker Ghulam Nabi Azad while attacking the government for using army, said he is not against the cultural festival but what about "environment, biodiversity and ecology of this country."
Union Finance Minister Arun Jaitley said the matter is being heard by National Green Tribunal (NGT). "Will the matter be heard here or the NGT," he retorted to the Opposition.
Jaitley said when a parallel proceeding is on in court, how it can be raised in the house.
In a tweet, Sri Sri asked all to not politicise the event.