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By:

Sayli Gadakh

11 November 2025 at 2:53:14 pm

Life on EMIs: Convenience or Financial Pressure?

Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath, a 34-year-old salaried professional in Pune, earns Rs 85,000 a month. On paper, he’s doing well. He owns a 2BHK apartment, drives a decent car, recently upgraded to a premium smartphone, and his home is filled with modern appliances. But by the 25th of every month, his bank balance is close to zero. Where does the money go? A closer look reveals the answer: EMIs. Rs 32,000 for a home...

Life on EMIs: Convenience or Financial Pressure?

Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath, a 34-year-old salaried professional in Pune, earns Rs 85,000 a month. On paper, he’s doing well. He owns a 2BHK apartment, drives a decent car, recently upgraded to a premium smartphone, and his home is filled with modern appliances. But by the 25th of every month, his bank balance is close to zero. Where does the money go? A closer look reveals the answer: EMIs. Rs 32,000 for a home loan. Rs 11,500 for a car loan. Rs 4,000 for a personal loan taken during a family function. Rs 3,200 for a smartphone on EMI. Add to this a couple of credit card minimum payments, and over 60 per cent of his salary is already committed before he even begins to spend on groceries, fuel, or utilities. Bharath’s story is not unusual; it is the new normal for many middle-class families. Over the last decade, easy access to credit has transformed consumption patterns. With just a few clicks, you can “afford” things that once required years of savings. Zero down payments, no-cost EMIs, and instant approvals—these offers make purchases feel light on the pocket. But what often goes unnoticed is the long-term burden they create. From a chartered accountant’s perspective, the problem is not EMIs themselves. In fact, certain EMIs, like a reasonably planned home loan, can be part of healthy financial planning. The issue arises when EMIs start funding lifestyle rather than assets. There is a fundamental difference between productive and consumption EMIs. A home loan, if within budget, builds an asset. An education loan can enhance earning capacity. These are investments in your future. On the other hand, EMIs for gadgets, vacations, or luxury items often depreciate in value the moment you buy them—yet you continue paying for them long after the excitement fades. This is where many middle-class earners fall into what I call the “EMI illusion". Because the monthly payment looks small, the purchase seems affordable. But affordability should not be judged by whether you can pay the EMI; it should be judged by whether it fits sustainably within your income and goals. A simple rule many financial experts recommend is this: Total EMIs should ideally not exceed 30–40 per cent of your monthly income. Beyond this, your financial flexibility starts shrinking rapidly. In Bharath’s case, crossing the 60 per cent mark has left him vulnerable. One unexpected medical expense or a temporary loss of income could push him into a debt spiral. Another common oversight is committing to EMIs without building an emergency fund. Equally concerning is the role of credit cards. Many individuals treat the “minimum amount due” as a safety net. In reality, it is a costly trap. Interest rates on unpaid credit card balances can go as high as 30–40 per cent annually, silently compounding the burden. So, is an EMI-driven life a convenience or financial pressure? The answer depends on discipline. EMIs can certainly make life convenient. They allow you to access necessities when needed and spread out large expenses. But without boundaries, they quickly turn into financial pressure, restricting your choices, delaying your savings, and increasing stress. For middle-class families aiming for stability, a few practical steps can make a significant difference. Before taking any EMI, ask whether it is a need or a want. Ensure you have at least three to six months of expenses saved before committing to new debt. Avoid taking multiple small EMIs simultaneously, as they add up faster than expected. Prioritise closing high-interest loans, especially credit card dues. Most importantly, focus on building savings and investments alongside repayments. Financial freedom is not about owning everything today; it is about the ability to choose tomorrow. Bharath has now started reassessing his finances. He has postponed further purchases, begun prepaying his high-interest loans, and is working towards creating an emergency fund. The journey may take time, but the direction has changed. And that, perhaps, is the real takeaway. Because in the end, the goal is not just to live a comfortable life but to live one that is financially secure. (The writer is a Chartered Accountant based in Thane. Views personal.)

Kalamboli Junction upgrade gathers pace

Rs 482-crore project targets seamless airport, port access

Mumbai: Work on the Rs 482-crore Kalamboli Junction Development Project, aimed at eliminating signals, easing congestion and boosting regional connectivity, is moving forward steadily, with key structural milestones already achieved. The National Highways Authority of India (NHAI) and Maharashtra State Infrastructure Development Corporation (MSIDC) are jointly executing the project, which is expected to transform one of Navi Mumbai’s busiest intersections into a high-speed, conflict-free traffic hub within 18 months.


On-site progress, engineering updates

According to an MSIDC official, 190 out of 688 piles have been completed, marking substantial advancement in foundation work. On the Pune ramp side, a 300-metre Pavement Quality Concrete (PQC) road and a 500-metre drainage system have been finished. Pile cap construction has commenced, while a casting yard for I-girder production has been set up, with the first girders expected to be cast by August 20.These developments indicate the project is well into its structural groundwork phase, a critical stage that determines the pace of superstructure assembly. Once girder casting begins, the visible transformation of the site is expected to accelerate, providing commuters with tangible signs of progress.


A two-level interchange to end traffic chaos

The upgraded junction will adopt a two-level directional/stack interchange design, ensuring signal-free movement and eliminating at-grade cross-conflicts — a major cause of delays at the current roundabout. The design aims to reduce queuing delays for all routes, an essential improvement given Kalamboli’s role as a convergence point for multiple arterial corridors.


These flyover arms will form the core of the project:

1. Shil Phata → Steel Yard

2. Pune → Shil Phata

3. Pune → Mumbai

4. Panvel → Mumbai

5. JNPA → Pune

6. Shil Phata → Pune


Additionally, two underpasses will link Panvel to Shil Phata and Panvel to the Steel Yard, further reducing traffic interference.


Strategic importance: Gateway to airport and port

Kalamboli Junction is not just a local traffic hotspot, it is a crucial node for Mumbai-Pune highway users, cargo transporters bound for Jawaharlal Nehru Port Authority (JNPA) and future passengers heading to the Navi Mumbai International Airport.Union Minister for Road Transport and Highways, Nitin Gadkari, had emphasised the importance of the upgrade, citing the junction’s pivotal role in both passenger mobility and freight logistics. With the airport slated to be a major regional hub, seamless access from major highways is considered vital for operational efficiency.


Managing disruptions during construction

While the long-term benefits are widely acknowledged, the project’s execution has inevitably brought short-term inconveniences. The Panvel exit from Kalamboli has been closed for six months, prompting traffic diversions via Palaspe and Atal Setu. This has led to heavier volumes on alternative routes, particularly during peak hours.Three piling rigs are operating round-the-clock to stay on schedule, with MSIDC and NHAI coordinating traffic management efforts. Officials are urging commuters to plan their journeys in advance and allow extra travel time.


Economic and urban mobility benefits

Once operational, the redesigned junction is expected to:

Cut travel time between Mumbai, Pune, and JNPA significantly.

Enhance logistics efficiency for cargo movement, reducing transit delays.

Improve accessibility to the Navi Mumbai International Airport, which will be a major driver of economic activity in the region.

Reduce fuel wastage and vehicular emissions by eliminating prolonged idling at signals.


Given that Kalamboli handles thousands of vehicles daily, including a high proportion of freight carriers, the project’s economic multiplier effect is likely to extend well beyond Navi Mumbai. Improved connectivity is expected to attract industrial and commercial investments to the surrounding zones, including Taloja, Panvel and Kharghar.


Challenges ahead

Despite the steady progress, certain challenges remain. Foundation work for the remaining 498 piles must be executed on time to avoid cascading delays in superstructure erection. Land acquisition for approaches and coordination with utility providers for shifting lines will also be critical to maintaining the schedule. Additionally, weather-related disruptions during the monsoon season could test construction timelines.However, the presence of a dedicated casting yard and pre-scheduled girder production indicates that MSIDC is aiming to offset potential delays by front-loading key fabrication work.


A transformational leap in regional transport

The Kalamboli Junction upgrade represents more than just an infrastructure project — it is a strategic urban mobility intervention. By combining flyovers, underpasses and a signal-free interchange, the design addresses not only current traffic bottlenecks but also anticipates future demand from Navi Mumbai’s urban expansion and the airport’s operations.If completed on schedule, by late 2026 commuters could see one of the most significant overhauls of a traffic node in Navi Mumbai’s history. As the first girders are cast this month, the groundwork is being laid — quite literally — for a faster, safer and more efficient transport experience across one of India’s busiest logistics and travel corridors.

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