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Correspondent

23 August 2024 at 4:29:04 pm

Red Romance

For long, the Naxalite in news was recognisable by the gun. But the more insidious version of Naxalism has never needed a rifle. It has thrived in varsity classrooms and newspaper and magazine columns, fostered by men and women sympathetic to it. These academics and other members of the so-called intelligentsia have long enjoyed their status as ‘respectable dissenters’ even when their politics offered intellectual alibis for Naxals carrying guns. Prime Minister Narendra Modi’s recent...

Red Romance

For long, the Naxalite in news was recognisable by the gun. But the more insidious version of Naxalism has never needed a rifle. It has thrived in varsity classrooms and newspaper and magazine columns, fostered by men and women sympathetic to it. These academics and other members of the so-called intelligentsia have long enjoyed their status as ‘respectable dissenters’ even when their politics offered intellectual alibis for Naxals carrying guns. Prime Minister Narendra Modi’s recent Independence Day warning about “dimaagi Naxals” should therefore not be dismissed as another political label. His larger point was that an insurgency does not survive on ammunition alone. It survives on ideas and people willing to make violence appear morally fashionable. The most revealing feature of India’s Maoist movement was never simply its brutality. It was the strange attraction it exercised over sections of the metropolitan Left elite. The Naxalite with an AK-47 could be transformed into a romantic revolutionary while the policeman he killed became an instrument of an oppressive state. This was not merely naïveté. At its ugliest, it was the intellectual laundering of political violence. The fantasy of the romantic revolutionary has always been seductive. In this narrative, amplified through sympathetic media priding itself on telling ‘truth to power,’ India was not a constitutional democracy struggling with inequality and corruption but an inherently illegitimate state waiting to be overthrown. In the minds of this elite Left, Maoist violence has often been recast as resistance while attacks on infrastructure as blows against capitalism. The armed overthrow of the Indian republic was the liberation they craved for. Some of India’s most celebrated intellectuals have flirted dangerously close to that moral inversion. The issue here is whether intellectual prestige can be used to sanitise an ideology whose practitioners have murdered civilians, policemen and public servants and terrorised some of India’s poorest districts. A university cannot be the place where Maoist romanticism acquires the legitimacy of a fashionable campus cause. Professors who turn armed insurgents into heroic revolutionaries are not merely exercising academic freedom. If they knowingly excuse violence, they are helping to construct the moral vocabulary that makes violence possible. Let’s be clear here. A professor who criticises the Indian state is not a Naxal while a journalist who exposes state excesses is not an enemy of India. But an intellectual who repeatedly excuses, glorifies or rationalises political violence cannot hide behind the word ‘dissent.’ India has paid an enormous price for the Maoist fantasy. Thousands have died. Entire regions were held back by fear while development was obstructed. The people supposedly being liberated were often the first to suffer. The armed Naxal is now being pushed towards extinction. But the Indian republic cannot afford to leave behind the romantic mythology that made the gun respectable. A democracy can tolerate dissent. It should never be expected to tolerate the glorification of those who seek its violent destruction.

Nine Financial Tips for a Prosperous Navratri

Updated: Oct 22, 2024

Nine Financial Tips

As we approach Navratri, I wish you all a joyous and prosperous festive season ahead. To help you stay on track with your financial goals during this time, here are nine essential financial tips to ensure your journey towards financial freedom is smooth and secure.


Build an Emergency Fund

Ensure you have at least six months’ worth of living expenses saved in a bank fixed deposit or a debt mutual fund. This serves as your emergency fund for unforeseen situations and ensures you are financially prepared for any rainy days ahead.


Review Your Asset Allocation

Revisit your financial plan to make sure your investments align with your financial goals. For goals within three years, consider bank fixed deposits/recurring deposits/debt mutual funds. For longer-term goals (beyond three years), a combination of hybrid mutual funds, equity mutual funds, direct equities and gold should be preferred.


Do Sufficient SIPs

Ensure you are investing enough through systematic investment plans (SIPs). Ideally, at least 25-30 per cent of your in-hand monthly income should be allocated towards SIPs in mutual funds/stocks/gold to help you build wealth consistently over time.


Make Lumpsum Investments

In addition to SIPs, consider making voluntary lump sum investments in the above longer term assets, whenever possible. Periodic lump sum contributions can significantly boost your overall wealth.


Increase Your SIPs Annually

As your income grows, so should your investments. Make it a point to increase your SIP amounts every year to keep up with your rising income. Again, aim for at least 30% of your monthly income towards investments.


Stay Invested

One of the most important rules of investing is to stay invested until your financial goals are met. Avoid treating your investments like an ATM. Pausing or redeeming your investments frequently disrupts their growth potential. Instead, try to raise an overdraft loan against your investments, to help whenever needed.


Health Insurance

Ensure that you and your family are adequately covered with comprehensive health insurance that includes necessary product features. A minimum cover of 25 lakhs per family member is recommended to safeguard against any major health-related expenses. Never solely rely on your employer’s health insurance.


Term Life Insurance

A term life insurance plan is essential for the financial security of your loved ones. Ensure you have a cover amounting to 10 times your annual income, plus any outstanding loans. Avoid combining insurance with investment plans—stick to a pure term insurance policy for adequate coverage.


Consult a Financial Advisor

Seek the help of a well-qualified, full-time financial advisor for making a financial plan and executing it. They will make your job easy. Never do-it-yourself in the case of wealth creation, financial goals, and investing.

Wishing you a financially secure and prosperous Navratri!

(The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal.)

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