top of page

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.

Salary Increased? What Next?

ree

Festivals, bonuses, and pay raises often bring smiles, family celebrations, and a sense of achievement. But look closely at how most professionals react to an annual increment or promotion - the celebrations usually take the form of a new phone, a bigger car, or signing up for another EMI. The financial “upgrade” is often about expenses and liabilities, not investments.


This is where many people miss the real opportunity. Every jump in salary is not just a chance to spend more today, but also a chance to secure tomorrow. If your income keeps rising but your investments don’t, your future standard of living may not match your present one. Inflation, rising lifestyle expectations, and bigger financial responsibilities can easily outpace the wealth you have built if your Systematic Investment Plans (SIPs) remain stagnant.


Lifestyle inflation trap

When income rises, people naturally feel entitled to improve their lifestyle. While that is only fair, the danger lies in allocating the entire increment to consumption. Yes, a balance between spending, new liabilities, and increasing investments is important after a new job, promotion, or annual increment. A bigger car EMI, a fancier holiday, or a premium gadget gives instant gratification, but does nothing to strengthen long-term wealth. Over time, this leads to a mismatch: expenses grow with each increment, but wealth doesn’t compound at the same pace.


SIP increment rule

A simple discipline can change this trajectory: every promotion, job change, or salary hike should trigger an increase in your systematic investments. Whether in mutual funds, stocks, or gold, your SIPs must keep pace with your career. A thumb rule worth following - anchor your monthly savings to at least 30% of in-hand monthly income. This ensures that your future wealth grows faster than your present lifestyle.


Take a simple example. Consider someone who starts a ₹10,000 SIP and keeps it flat (constant) for 20 years. At a 12% return, this will grow to around ₹92 lakh. Now, if the same person increases the SIP by just ₹1,000 every year (linked to increments), the corpus after 20 years jumps to nearly ₹1.5 crore. That’s the power of aligning investments with income growth. A simple 10% increase in SIPs can enhance your wealth by as much as 50% in 20 years.


Wealth is real promotion

Think of it this way - your job role gets upgraded, your salary gets upgraded, your lifestyle gets upgraded… shouldn’t your financial future also get upgraded? By consciously directing a part of every raise towards investments, you are not just rewarding yourself today but also ensuring that tomorrow’s standard of living remains secure.


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

Comments

bottom of page