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By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Congress’ solo path for ‘ideological survival’

Mumbai: The Congress party’s decision to contest the forthcoming BrihanMumbai Municipal Corporation (BMC) elections independently is being viewed as an attempt to reclaim its ideological space among the public and restore credibility within its cadre, senior leaders indicated. The announcement - made by AICC General Secretary Ramesh Chennithala alongside state president Harshwardhan Sapkal and Mumbai Congress chief Varsha Gaikwad - did not trigger a backlash from the Maharashtra Vikas Aghadi...

Congress’ solo path for ‘ideological survival’

Mumbai: The Congress party’s decision to contest the forthcoming BrihanMumbai Municipal Corporation (BMC) elections independently is being viewed as an attempt to reclaim its ideological space among the public and restore credibility within its cadre, senior leaders indicated. The announcement - made by AICC General Secretary Ramesh Chennithala alongside state president Harshwardhan Sapkal and Mumbai Congress chief Varsha Gaikwad - did not trigger a backlash from the Maharashtra Vikas Aghadi (MVA) partners, the Nationalist Congress Party (SP) and Shiv Sena (UBT). According to Congress insiders, the move is the outcome of more than a year of intense internal consultations following the party’ dismal performance in the 2024 Assembly elections, belying huge expectations. A broad consensus reportedly emerged that the party should chart a “lone-wolf” course to safeguard the core ideals of Congress, turning140-years-old, next month. State and Mumbai-level Congress leaders, speaking off the record, said that although the party gained momentum in the 2019 Assembly and 2024 Lok Sabha elections, it was frequently constrained by alliance compulsions. Several MVA partners, they claimed, remained unyielding on larger ideological and political issues. “The Congress had to compromise repeatedly and soften its position, but endured it as part of ‘alliance dharma’. Others did not reciprocate in the same spirit. They made unilateral announcements and declared candidates or policies without consensus,” a senior state leader remarked. Avoid liabilities He added that some alliance-backed candidates later proved to be liabilities. Many either lost narrowly or, even after winning with the support of Congress workers, defected to Mahayuti constituents - the Bharatiya Janata Party, Shiv Sena, or the Nationalist Congress Party. “More than five dozen such desertions have taken place so far, which is unethical, backstabbing the voters and a waste of all our efforts,” he rued. A Mumbai office-bearer elaborated that in certain constituencies, Congress workers effectively propelled weak allied candidates through the campaign. “Our assessment is that post-split, some partners have alienated their grassroots base, especially in the mofussil regions. They increasingly rely on Congress workers. This is causing disillusionment among our cadre, who see deserving leaders being sidelined and organisational growth stagnating,” he said. Chennithala’s declaration on Saturday was unambiguous: “We will contest all 227 seats independently in the BMC polls. This is the demand of our leaders and workers - to go alone in the civic elections.” Gaikwad added that the Congress is a “cultured and respectable party” that cannot ally with just anyone—a subtle reference to the Maharashtra Navnirman Sena (MNS), which had earlier targeted North Indians and other communities and is now bidding for an electoral arrangement with the SS(UBT). Both state and city leaders reiterated that barring the BMC elections - where the Congress will take the ‘ekla chalo’ route - the MVA alliance remains intact. This is despite the sharp criticism recently levelled at the Congress by senior SS(UBT) leader Ambadas Danve following the Bihar results. “We are confident that secular-minded voters will support the Congress' fight against the BJP-RSS in local body elections. We welcome backing from like-minded parties and hope to finalize understandings with some soon,” a state functionary hinted. Meanwhile, Chennithala’s firm stance has triggered speculation in political circles about whether the Congress’ informal ‘black-sheep' policy vis-a-vis certain parties will extend beyond the BMC polls.

Dussehra Special: Avoid Listening to 10 Heads

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“Duss (10) saron ki sunoge, toh sahi kaise chunoge?” This phrase resonates with the story of Dussehra, where Lord Ram triumphs over Ravana, a demon with 10 heads - each representing a different distraction or temptation. In the world of personal finance, these “10 heads” symbolise the overwhelming number of opinions and advice people receive when managing their money. If you listen to every voice and follow every trend, you will struggle to identify the right path for yourself.


Learn personal finance: Knowledge is power

In today’s fast-paced world, financial advice is everywhere - friends, family, colleagues, social media influencers, and unsolicited internet tips. Not all of it will be relevant to your unique financial situation. To navigate through the noise, it is important to take control of your financial education.


Start by understanding key financial concepts like risk, return, liquidity, and time horizon for different investment products. Risk refers to the potential loss you might face with an investment. Return is the profit you can expect to earn. Liquidity indicates how easily an asset can be converted into cash. Time horizon is how long you plan to invest before needing to access the funds.


Learning these basics will help you evaluate which products - be it mutual funds, direct stocks, gold, real estate, fixed deposits, or insurance - actually suit your goals and needs.


By educating yourself, you will develop a critical eye that helps you distinguish between helpful advice and distracting noise. Whenever you analyse any instrument, all four criteria (risk, return, liquidity, time horizon) must be considered together and aligned with your financial goals - such as children’s education, marriage, buying a home, vacations, cars, or retirement. Having a foundational understanding of these concepts ensures that you do not fall prey to quick-fix schemes or misleading suggestions that often sound attractive in the short run but prove damaging over the long term.


Have a financial advisor: Like a family doctor for your finances

Even with self-education, managing your finances can be challenging. This is where having a reliable financial advisor, much like a trusted family doctor, plays a crucial role.


Just as your family doctor understands your medical history and offers personalized care, a financial advisor tailors their guidance based on your unique profile - your income, savings, risk tolerance, and future financial goals. A good advisor helps you stay focused on long-term objectives while steering you away from emotional or impulsive decisions.


Dussehra reminder

So, this Dussehra, remember: do not listen to ten heads. Choose wisely, stay informed, and have a trusted financial guide by your side. After all, it takes years of education, experience, expertise, and wisdom to write a prescription - so do not self-medicate when it comes to your wealth.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

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