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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Five Action Points for July

With the first half of 2026 now behind us, July becomes an important checkpoint in the financial calendar. The beginning of July is the right time to move from reflection to action. Here are five important financial action points to focus on. 1. Inflation-Beating Assets One of the most important principles of long-term investing is to ensure that your portfolio is designed to beat inflation. Inflation silently reduces the real value of your money over time. This is why your long-term...

Five Action Points for July

With the first half of 2026 now behind us, July becomes an important checkpoint in the financial calendar. The beginning of July is the right time to move from reflection to action. Here are five important financial action points to focus on. 1. Inflation-Beating Assets One of the most important principles of long-term investing is to ensure that your portfolio is designed to beat inflation. Inflation silently reduces the real value of your money over time. This is why your long-term investments must be in assets that have the potential to deliver inflation-adjusted returns. For long-term financial goals, investors should consider assets such as equity mutual funds, direct stocks and gold. For short-term financial goals, especially those required within the next three years, options such as bank fixed deposits, recurring deposits or suitable debt mutual funds can be considered. If a large portion of your money is lying in low-return instruments, July is a good time to review and reshuffle your portfolio. 2. Increase Your SIPs Systematic Investment Plans (SIPs) remain one of the most disciplined ways to build wealth. SIPs help you invest regularly, avoid timing the market and benefit from long-term compounding. However, simply having SIPs is not enough. Your SIP amount must also be sufficient. Ideally, investors should aim to invest at least 30 percent of their in-hand monthly income. A common mistake is not increasing SIPs even when income goes up. Whenever your income goes up, your SIPs should also increase. An annual SIP increase can make a significant difference to your long-term wealth creation. 3. Make Lumpsum Investments While SIPs provide discipline, they should not be your only investment strategy. Besides SIPs, it is important to do extra lumpsum investments voluntarily, every few months. Also, if you have received a bonus, incentive or any unexpected inflow, consider investing it as a lumpsum. The idea is simple: do not let surplus money remain idle for too long. Staying invested gives your money the opportunity to grow. 4. Secure Insurance Cover Health insurance and term life insurance are essential pillars of financial planning. A single hospitalization can disturb your finances if you are not adequately covered. Do not depend only on your employer’s health insurance. Buy a sufficient personal health insurance policy with the right features. Similarly, term life insurance protects your family’s financial security in case of an unfortunate event. Your cover should be based on your income, loans, dependents and future responsibilities. 5. Consult a Financial Advisor If you have not yet made a proper financial plan, July is a good time to do so. Even if you already have a plan, it should ideally be reviewed every year. Consult a well-educated, full-time financial advisor for your financial goal planning and execution. It takes years of education, experience, expertise and wisdom to write a prescription. Please do not self-medicate when it comes to your wealth. The first half of 2026 is over, but the second half still gives you the opportunity to realign your finances. Take action, stay disciplined and move steadily towards your financial goals. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Power Games in the Rain

As legislators trade defections for reforms and accusations for applause, Maharashtra’s monsoon session finds the state’s citizens still awaiting relief.

The Monsoon Session of the Maharashtra Legislature has evolved into a revealing contest over power and political survival instead of the constitutional ritual of debating laws and approving budgets it is meant to be.

 

While the Devendra Fadnavis-led Mahayuti has sought to project itself as a reforming administration pushing through legislation and welfare measures, the opposition has tried to paint it as a government more adept at political management than public administration. Outside the legislature, meanwhile, Maharashtra has been wrestling with the familiar burdens of floods and a paradoxical water scarcity, power outages and rural distress, reminding politicians that nature remains stubbornly indifferent to partisan battles.

 

Contentious Session

The session’s first controversy arrived before substantive legislative business had even begun. During obituary references to eminent personalities who had died over the past year, Assembly Speaker Rahul Narwekar stumbled repeatedly while reading names and citations. Curiously, the opposition initially let the errors pass. Only after Raj Thackeray mocked the lapses in his characteristic style did the issue gather political momentum. Opposition parties swiftly turned their attention to the Speaker’s conduct, forcing Narwekar to apologise before the House and drawing an early curtain on what might otherwise have become a prolonged embarrassment.

 

The more consequential drama, however, unfolded beyond the chamber. What came to be known as ‘Operation Tiger’ further weakened the Shiv Sena (UBT), drawing several leaders towards the ruling camp. Although Uddhav Thackeray toured constituencies represented by defectors in an attempt to contain the damage, the defections showed that organisational strength matters less when political gravity is pulling in the opposite direction.

 

That impression was reinforced when Council MLA Sachin Ahir, seen alongside UBT leaders in the morning, filed his nomination for the post of Deputy Chairman of the Legislative Council later the same day as the candidate of the Eknath Shinde-led Shiv Sena. The speed of the switch surprised even seasoned observers. Many credited Shinde with executing yet another carefully calibrated political manoeuvre.

 

Game of Thrones

Predictably, whispers of a possible ‘Operation Tutari’ have begun circulating, suggesting that Maharashtra's game of defections is far from over.

Inside the legislature, the government has tried to ensure that politics does not overshadow policymaking. It presented supplementary demands exceeding Rs. 97,700 crore for 2026-27, promising greater spending on infrastructure, welfare programmes and development projects. Whether this translates into effective delivery remains the more important question.

 

Among the session's more consequential measures is the Women Farmers’ Empowerment Bill. In much of rural Maharashtra, women undertake much of the agricultural labour but remain invisible in official records because land titles are held in the names of male relatives. The legislation seeks to correct that anomaly by granting women cultivators formal recognition as farmers regardless of land ownership. Official certification would enable them to access government schemes, institutional credit, subsidies and market support.

 

If implemented seriously rather than symbolically, the reform could reshape the economic status of rural women across the state.

 

The Assembly has also strengthened the Maharashtra Protection of Interest of Depositors Act. By requiring those convicted of defrauding investors to deposit half the disputed amount before filing an appeal, the government hopes to speed up compensation for victims while discouraging frivolous litigation. It is an attempt to reassure ordinary savers at a time when financial fraud has become both more frequent and more sophisticated.

 

The passage of the Freedom of Religion Bill has proved considerably more contentious. The government argues that the legislation is designed to curb illegal religious conversions and protect vulnerable citizens. The opposition counters that a law with significant constitutional implications deserved fuller scrutiny than it received.

 

Opposition leaders, including Nana Patole, Jayant Patil and Sunil Prabhu, have repeatedly accused the treasury benches of rushing legislation through the House while curtailing debate. Their protests culminated in a walkout during discussions on municipal laws. Ministers responded that the opposition had squandered valuable time through repeated disruptions and could hardly complain about compressed proceedings afterwards.

 

United on Agriculture

If any issue has united the opposition, it is agriculture. Members have repeatedly attacked the eligibility conditions attached to the state's farm loan-waiver scheme, arguing that many indebted cultivators remain excluded by restrictive criteria. They have demanded a comprehensive waiver rather than selective relief. Water scarcity, despite the arrival of the monsoon, has also remained politically potent. Delayed rainfall left several districts facing drought-like conditions before the rains eventually arrived, prompting demands for a dedicated debate on water management and drought relief.

 

Yet, it is events outside the Assembly that have most exposed the gap between legislation and lived reality. Heavy rains have once again paralysed Mumbai, flooding roads, disrupting suburban rail services and delaying flights. The annual submergence of the Andheri subway has become less an aberration than a seasonal ritual, raising persistent questions about the city’s infrastructure and preparedness despite years of promises.

 

Rural Maharashtra faces a different but equally pressing crisis. Farmers in districts such as Bhandara have protested prolonged electricity outages caused by damaged transmission lines, leaving irrigation pumps idle at a critical stage of the cropping season. Many have threatened hunger strikes unless power is restored swiftly.

 

As the session approaches its conclusion, both sides will claim vindication. The government will point to a substantial legislative record and argue that it has pursued meaningful reforms while maintaining political stability. The opposition will insist that legislative productivity cannot compensate for administrative shortcomings.

 

The session has therefore become a microcosm of contemporary Maharashtra. It has featured ambitious legislation, relentless political manoeuvring, high-profile defections and increasingly bitter procedural disputes. The measure of its success will lie in whether decisions taken here improved the lives of citizens once the Assembly adjourns and the headlines move on. In Maharashtra, as in politics more generally, the hardest task begins after the applause has faded.


(The writer is a political observer. Views personal.)

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