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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.)

Chanakya Redux

Nov 20, 2025
2 min read

Nitish Kumar’s tenth ascent to power marks not just personal endurance but the remaking of Bihar’s political economy.


Patna: Chief Minister Nitish Kumar embodies the peculiar mix of durability and opportunism that defines much of Indian state politics. Admirers cast him as a ‘modern Chanakya’ while critics deride him as a relentless shape-shifter. Both readings miss the more telling point which is that Kumar has become the architect of Bihar’s long, hesitant transition from a basket case to a state with the rudiments of order and growth.


A product of the JP Movement of the 1970s, he lost more elections than he won in his early years, but outlasted most of his contemporaries. His break with Lalu Prasad Yadav in the mid-1990s and his partnership with George Fernandes and the BJP gave him his first coherent platform. When he first took charge in 2005, Bihar was a byword for criminality, broken roads, and a state apparatus hollowed out by patronage. His initial years in office, unusually stable by Bihar’s standards, brought sharp improvements in law and order, modest economic recovery, and a technocratic seriousness rare in the state’s politics.


His social policies were equally calculated. His wager on women through reservation in panchayats, bicycle schemes for schoolgirls and the strengthening of self-help groups shifted Bihar’s political arithmetic. Prohibition, whatever its distortions, cemented his grip on female voters. Incremental attention to extremely backward classes, Dalits and Mahadalits helped him build a coalition broad enough to survive repeated realignments.


Those realignments have been many. He has aligned with the BJP, broken with it, allied with the RJD, abandoned it, and returned to the BJP fold more than once. Ideology has rarely been the driving force; staying in office to push what he sees as necessary administrative reform has. The 2025 mandate, delivered under the NDA banner, underscores his continuing relevance in a state still marked by demographic pressure, chronic underinvestment and fragile institutions.


His achievement is neither mythical nor miraculous. The gap between Bihar and faster-growing states remains wide; the state’s dependence on central transfers is acute; and outmigration continues unabated. Yet the Bihar he governs today is not the one he inherited. Schools function more predictably, roads have multiplied, and welfare delivery, though still patchy, is less capricious.


A tenth term offers a moment to judge his legacy less by hagiography than by hard outcomes. If he is to earn the Chanakyan comparisons, it will be by using his unmatched longevity to push Bihar beyond incrementalism and towards serious investment, institutional strengthening and a labour market that does not send its young to distant cities in search of dignity.

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