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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.

Market Ka Kya Lagta Hai?

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“Market ka kya lagta hai?” - this single question echoes everywhere - from office discussions to family WhatsApp groups. Whether the market is rising or falling or consolidating, people never stop asking: what will happen next?

But the honest truth is simple - no one really knows. There are two timeless principles that every investor must remember. 


Truth No. 1 – In the long run, markets go up

If you study the history of the stock market you will notice one consistent trend: over time, markets rise.Yes, there will be temporary corrections, global crises, or uncertainty, but these are only pauses in a long-term growth journey.


Over a period of 5, 7, 10 years, markets have always rewarded patience. The reason is simple - as businesses grow, profits expand, and the economy progresses, stock prices eventually follow.


Hence, those who stay invested for the long term always benefit. The principle is clear - time in the market is more important than timing the market. Trying to jump in and out frequently rarely works. Staying invested and disciplined does.


Truth No. 2 – In the short run, no one knows what will happen

The second truth is harder to digest. In the short term - over the next day, week, month, or year - no one can predict the market’s movement. There will be ups and downs, sudden rallies, unexpected corrections, and confusing phases. Even the best experts and algorithms cannot forecast them accurately.


Short-term volatility is not a bug - it is a feature of the stock market. In fact, this volatility is what allows Systematic Investment Plans (SIPs) to average out costs and help long-term wealth creation. Markets move on emotions - fear, greed, speculation, optimism, and panic. That is why short-term forecasts almost always fail.


So, what should investors do?

The solution is simple: keep investing regularly and stay invested. This applies across equity and hybrid mutual funds, as well as direct stocks. Do sufficient SIPs in all market conditions - rising, falling, or flat. Over time, these steady investments average out and allow compounding magic to work silently and powerfully. Along with SIPs, add periodic lumpsum investments when possible. Align everything with your long-term financial goals.


Do not waste energy predicting the next market move. Focus instead on long-term participation and discipline. Remember, time is your best fund manager.


In summary

There are only two fundamental truths about the market:-> In the long run, markets go up.-> In the short run, markets remain volatile.


Once you understand these two realities, you will stop asking “Market ka kya lagta hai?” and start asking the more important question - “Am I investing enough for my financial goals?”


That is when the market stops being a mystery and starts becoming your most powerful wealth-creating partner.

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

 

 

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