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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

A Comeback Rooted in Green

6 hours ago
2 min read

Part - 8


Who: Pankaja Munde

Where: Parli Vaijnath, Beed district

Pankaja Munde is making a comeback — not with political fireworks or headline-grabbing confrontations, but through a quieter, more deliberate campaign to reshape Maharashtra’s environmental future. The BJP leader is steadily reclaiming her space with a green agenda that places governance, sustainability and grassroots engagement at its centre.


Over the past 18 months, Munde, Maharashtra’s Environment and Climate Change Minister, has pursued a series of policy initiatives and administrative reforms to address the state’s mounting ecological vulnerabilities. As extreme weather events intensify and climate risks spread across the state, she has sought to build a more systematic response through institutional restructuring, regulatory interventions and public participation.


Maharashtra is among the country’s most climate-vulnerable states, having recorded 142 extreme weather events in 2024 alone. More than 94 per cent of its districts are susceptible to climate change, while the frequency of hot days has doubled, droughts and coastal cyclones have tripled, and floods have quadrupled over the past decade. Against this backdrop, Munde has adopted a methodical approach, keeping much of her focus on administrative work rather than the political controversies and media glare that marked her earlier career.


At the policy level, she has established the Maharashtra State River Rejuvenation Authority to help maintain natural river flows and curb water pollution. A Carbon Market Facilitation Cell has been launched to implement the state’s carbon credit policy, while her department has collaborated with the iFOREST organisation to develop a comprehensive Just Transition Roadmap. The initiative seeks to ensure that the shift from fossil fuels to renewable energy sources does not leave vulnerable communities behind. Munde has also restructured the Maharashtra Coastal Zone Management Authority to strengthen regulatory oversight.


A special task force has been formed to promote large-scale bamboo cultivation, with a target of covering 15,738 hectares by October 2025. Clean-up initiatives across 11 beaches have improved local environments. Five beaches — Parnaka in Dahanu, Shrivardhan, Nagaon, Guhagar and Ladghar — have been selected to pursue international Blue Flag certification through Denmark’s Foundation for Environmental Education.


Munde has also sought to bring environmental conservation closer to communities. A resolution was passed to develop at least one man-made Devrai (sacred grove) and Ghanvan (dense forest) in every taluka, with the aim of preserving local biodiversity.


Her effort to make religious celebrations more environmentally conscious received a striking showcase at the Eco-friendly Maha Ganesh Idol Workshop in Vashi, Mumbai. More than 10,000 students simultaneously crafted Shadu clay idols, securing a Guinness World Record for the state.


Complementing these measures is the statewide Paryavaran Vachva Vasundhara Sajva (Save the Environment, Adorn the Earth) campaign. Munde has personally visited religious sites to persuade traders and citizens to give up single-use plastics.


Whether or not these initiatives translate into lasting ecological gains, they nonetheless signal an attempt to give Maharashtra’s environmental administration a more proactive identity. 

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