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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Fast Today, Prosper Tomorrow

AI Generated Image Navratri is a time when devotion, self-control, and celebration come together. For nine days, people across the country observe fasting, prayers, and rituals with discipline and faith. But beyond the spiritual significance, Navratri also carries valuable lessons for our financial lives - especially in how fasting and sacrifice mirror the principles of investing. Fasting as discipline When we fast, we consciously give up indulgence. It is not just about avoiding food; it...

Fast Today, Prosper Tomorrow

AI Generated Image Navratri is a time when devotion, self-control, and celebration come together. For nine days, people across the country observe fasting, prayers, and rituals with discipline and faith. But beyond the spiritual significance, Navratri also carries valuable lessons for our financial lives - especially in how fasting and sacrifice mirror the principles of investing. Fasting as discipline When we fast, we consciously give up indulgence. It is not just about avoiding food; it is also about training the mind and body to resist temptation. The same applies to investing. In a world full of instant gratification, whether it is the latest gadget, a fancy car, an expensive lifestyle or a luxury holiday, real wealth creation requires the discipline to sometimes say, “not now.” Just as fasting strengthens willpower, disciplined investing strengthens our financial health. Sacrifice for a greater good Navratri fasting involves small sacrifices today for spiritual growth tomorrow. In investing too, we often have to sacrifice some short-term pleasures to secure long-term prosperity. Choosing to invest a bonus instead of spending it entirely, or increasing SIPs using a portion of every salary increment instead of allocating the entire increase towards expenses and new liabilities, may feel like a sacrifice initially. But these small decisions, repeated over many years, can accumulate into significant future wealth and financial security. This is the very essence of delayed gratification. Patience and consistency Navratri fasting is not observed for just one day. The discipline continues throughout the nine days. Similarly, investing is not about one lucky trade or one successful investment. Wealth creation requires staying the course month after month and year after year through regular investing, sensible asset allocation and the power of compounding. There will inevitably be periods when markets test our patience. But just as discipline during Navratri is maintained throughout the festival, financial discipline must continue through both good and difficult market conditions. Balance and moderation Fasting during Navratri is not about starving. It is about moderation, restraint and mindful eating. Investing too should not be about extremes, neither reckless risk-taking nor excessive conservatism. A well-planned portfolio spread appropriately across assets such as equity, debt and gold can provide both growth and stability. Just as moderation keeps the body healthy, balance helps keep our finances resilient. The bigger picture Ultimately, Navratri fasting is also about purification of the body, mind and soul. Investing, in its own way, requires purification of financial habits: moving away from impulsive spending, unnecessary liabilities and short-term thinking towards purposeful saving and wealth creation. This Navratri, as you observe your fast with devotion and discipline, also resolve to bring the same qualities into your financial life. After all, both fasting and investing ask us to give up a little today in pursuit of something greater tomorrow. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Discussions on among allies for govt formation: Ajit Pawar

Correspondent
Nov 26, 2024
2 min read

Updated: Nov 29, 2024

Ajit Pawar

Mumbai: Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.


Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.


The NCP leader also assured that the alliance was working cohesively following its resounding victory in the state assembly elections.


Pawar paid tributes to Maharashtra's first chief minister Yashwantrao Chavan at his memorial in Karad on his death anniversary.


In the state poll results declared on Saturday, the Mahayuti, which comprises the BJP, Chief Minister Eknath Shinde's Shiv Sena and Ajit Pawar-led NCP, bagged an impressive 230 of the 288 assembly seats.


The focus has been on BJP leader and Deputy Chief Minister Devendra Fadnavis, who is being seen as a strong contender to occupy the top post for the third time, as his party bagged 132 of the 149 seats it contested in the state.


Notably, Maharashtra minister and Shiv Sena leader Deepak Kesarkar has said his party legislators feel Eknath Shinde should continue as the chief minister of the state, where the ruling Mahayuti scored a landslide victory in the assembly polls.


Ajit Pawar said, "We will decide what formula to work out on the cabinet formation among the three parties."


Reflecting on the elections, he acknowledged the contribution of the Ladki Bahin scheme in the Mahayuti's win.


"We cannot ignore that Ladki Bahin helped us in this election. We are grateful to them (women voters)," he said.


Defending the scheme, Pawar, who is also the state finance minister, further said, "Had I been opposed to the Ladki Bahin scheme, I would not have presented it in the House. I discussed the scheme with several retired finance officers before finalising it."


Pawar also dismissed concerns raised by some opposition leaders over the Electronic Voting Machines (EVMs), pointing out that polls in states like Punjab, West Bengal and Telangana, governed by their political opponents, have been conducted with the same system.


Commenting on members of same families contesting against each other during the elections, Pawar expressed annoyance over repeated questions on it.


He then asked, "Why was my close nephew fielded? Atram's own daughter was fielded against him, and even Rajendra Shingne faced a similar challenge. I don't want to comment further on this. I have got tired of apologising for fielding my wife against Supriya. Yugendra was in business, then why was he prepared to contest against me?"


In the Baramati assembly seat, Ajit Pawar was pitted against his nephew and NCP (SP) candidate Yugendra Pawar.


In Aheri seat, NCP leader Dharamraobaba Atram's daughter Bhagyashree Atram contested against him on NCP (SP) ticket.

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