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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Focus on Personal Budget

Every year on 1st February, the Union Budget captures the nation’s attention. From revised tax policies to increased spending in various sectors, people eagerly analyze every announcement, hoping for immediate benefits. While the national budget undeniably affects the broader economy, it's time to ask: are we giving it too much importance in our personal financial planning? Focusing solely on the Union Budget can pull us away from what truly matters - managing our own finances effectively....

Focus on Personal Budget

Every year on 1st February, the Union Budget captures the nation’s attention. From revised tax policies to increased spending in various sectors, people eagerly analyze every announcement, hoping for immediate benefits. While the national budget undeniably affects the broader economy, it's time to ask: are we giving it too much importance in our personal financial planning? Focusing solely on the Union Budget can pull us away from what truly matters - managing our own finances effectively. Rather than getting caught up in macroeconomic changes, why not direct your energy toward the "micros" of your financial life? Creating a personal budget ensures you're in control of your money, managing it wisely, and directing it where it should go, rather than constantly wondering where it went. Build Skills, Boost Income While many turn to the Union Budget for economic relief, a more effective long-term strategy is focusing on increasing your own income. By upgrading your skills, learning to sell, building new things, and networking better, you create opportunities to enhance your earnings. While government policies can influence economic growth, personal growth is a far more powerful tool for creating financial stability. Saving and Investing Smartly A key principle of financial stability is maintaining a healthy savings rate. However, saving alone isn't enough. You need to invest your savings wisely. Smart asset allocation is essential for ensuring your money grows and beats inflation over the long term. Consider allocating the majority of your savings to inflation-beating assets such as direct stocks, equity mutual funds, and gold. These investments have historically offered better returns than inflation and can help build lasting wealth. Protect Your Savings Just as important as growing your savings is protecting them from unforeseen events. Health insurance is crucial in safeguarding your finances against unexpected medical expenses, which can quickly erode savings. Similarly, securing your family’s future with term life insurance protects their financial goals, ensuring they remain on track even in your absence. Consult a Financial Advisor Managing personal finances can feel overwhelming, but consulting a well-qualified, full-time financial advisor can make a significant difference. A skilled advisor brings education, wisdom, experience and expertise to the table, helping you craft a tailored financial plan and personal budget that meet your goals while providing a solid safety net. As we head into 2026, it’s time to shift our focus away from the Union Budget and towards our own financial success. By enhancing our skills, increasing our savings, investing wisely, and protecting our wealth, we can take charge of our financial futures - regardless of government policy changes. Ultimately, a well-structured personal budget is the real key to financial independence and lasting peace of mind. (The author is a Chartered Accountant and CFA (USA). Financial Advisor.  He could be reached on 9833133605. Views personal.)

Lingua Pragmatica

Updated: Mar 20, 2025

As Southern leaders like M.K. Stalin rage against Hindi, Andhra Pradesh’s Chief Minister Chandrababu Naidu offers a model of pragmatism over parochialism.

Chandrababu Naidu
Andhra Pradesh

Amid the cacophony of opposition in southern states to Hindi, Andhra Pradesh CM N. Chandrababu Naidu has taken a markedly pragmatic stance by remarking recently in the state Assembly that there was no harm in learning other languages. Hindi, Naidu noted, was useful for communication across India, particularly in political and commercial hubs like Delhi. His remarks, though avoiding explicit mention of the NEP, were widely seen as an endorsement of multilingualism and a rebuke to the linguistic chauvinism that has gripped parts of the South.


Few issues in India stir political passions quite like language. It is not merely a means of communication but a marker of identity, a relic of colonial resistance, and a source of political mobilization. In the southern states, where anti-Hindi sentiment has long been entrenched, the National Education Policy (NEP) 2020 and its three-language formula have reignited old tensions. No state embodies this defiance more than Tamil Nadu, where the ruling Dravida Munnetra Kazhagam (DMK) led by M.K. Stalin has framed the policy as an assault on its linguistic autonomy.


Naidu’s words, welcomed by his ally and Deputy Chief Minister Pawan Kalyan, mark a sharp contrast with the DMK’s position. Tamil Nadu’s hostility towards Hindi dates back to the 1930s, when C. Rajagopalachari’s attempt to introduce it in schools met with fierce resistance. The anti-Hindi agitations of the 1960s cemented the DMK’s ideological stance, with its first Chief Minister, C.N. Annadurai, famously warning that Hindi imposition could push Tamil Nadu towards secession.


The question, however, is whether this rigid opposition serves Tamil Nadu’s interests. While Stalin, with an eye to the upcoming Tamil Nadu Assembly polls, has been relentlessly portraying Hindi as a threat to his state’s regional identity, Naidu, a partner of the BJP-led Centre, is framing it as a tool for economic mobility. His argument is not that Hindi should replace Telugu or English but that it offers a competitive advantage.


The economic case for multilingualism is compelling. Indians who speak multiple languages tend to have better job prospects, higher earnings and greater geographic mobility. Andhra Pradesh’s Telugu-speaking diaspora is a case in point. Telugus make up a significant proportion of Indian-origin professionals in the United States, the Gulf, and Southeast Asia as Naidu pointed out, hinting that this success story was built not on linguistic rigidity but on adaptability.


In a country where inter-state migration is rising and where Hindi remains the most widely spoken language, refusing to learn it amounts to self-imposed isolation. Tamil Nadu’s approach, by contrast, risks limiting its youth. The DMK government has refused to implement the three-language policy, keeping schools strictly bilingual with Tamil and English. Its justification that Hindi is not necessary for global success could be true in a narrow sense but ignores the domestic context. If Tamil filmmakers can dub their movies into Hindi to expand their audience, why should Tamil students be denied access to the language that could open more doors for them within India?


The DMK has accused successive central governments, particularly under the Bharatiya Janata Party (BJP), of pushing Hindi at the expense of regional languages. Yet, rejecting Hindi outright is an overcorrection. The reality is that Hindi is an important language in India’s economic and political landscape. Naidu’s position, one of accommodation rather than confrontation, offers a middle ground that other Southern leaders would do well to consider.


Some states already recognize this. Karnataka, despite its own history of linguistic pride, has allowed Hindi to be taught as an optional language. Kerala, whose migrants work in Hindi-speaking regions and the Gulf, has been less hostile to Hindi education. Naidu’s model, balancing regional identity with practical necessity, offers a way forward. Languages should be embraced, not politicized. Southern leaders would do well to listen to him.

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