top of page

By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

The Battle for the Base

Nov 7, 2025
4 min read

Maharashtra’s local body polls will decide not just who governs its towns but which parties will dominate its politics in the future.

The announcement by Maharashtra’s State Election Commission of the schedule for the long-delayed local body polls saw the ruling Bharatiya Janata Party’s (BJP) campaign machinery in full swing. The party activated its committees and immediately mobilized its workers in stark contrast to the reactive strategies of its rivals.


The opposition - an uneasy collection of the Congress, Sharad Pawar’s Nationalist Congress Party NCP(SP), and Uddhav Thackeray’s Shiv Sena (UBT) - had sought to delay the polls. Raj Thackeray’s Maharashtra Navnirman Sena (MNS) had joined them in a grand rally, insisting that no election should be held until the voter lists were “cleaned up.” But within two days, the State Election Commission announced the dates, citing a Supreme Court directive that mandated the completion of local polls before January 2026.


Caught off guard, the opposition had little choice but to comply. The BJP, anticipating this moment, was already several steps ahead. Its State leadership had long begun appointing office-bearers, coordinating cadres and strengthening networks down to the booth level.


Local bodies are the arteries of governance. Whoever controls them controls the interface between citizen and state. Their reach offers political parties not just influence, but a ready-made network of money, manpower and mobilisation that can tilt future assembly and parliamentary contests.


Think of it as scaled-up society politics where residents band together to elect leaders who mediate with authorities. In civic terms, local corporators play the role of brokers of development whose collective sway decides which party claims credit or deflects blame.


Maharashtra’s history shows that power in India flows upward. The Congress long ruled through cooperatives, zilla parishads and municipal councils, while Sharad Pawar perfected this machinery into a personal empire. The Shiv Sena, with occasional Congress indulgence, captured Mumbai’s Brihanmumbai Municipal Corporation (BMC) by the early 1980s, turning Asia’s richest civic body into its citadel.


Local conquests

The BJP arrived late but adapted fast. Harnessing the organisational rigour of the Rashtriya Swayamsevak Sangh (RSS), it focused on small towns and semi-urban belts where others were weak. The aim was bottom-up dominance by winning nagar palikas, grooming local influencers and building a self-sustaining cadre. By the time Narendra Modi came to power in 2014, the party had perfected the art of local conquest. No election was too small; every ward, every gram panchayat mattered.


Its ultimate ambition remains clear: to wrest control of the BMC from the Shiv Sena and Uddhav Thackeray’s control- a prize that would symbolically and materially cement the BJP’s dominance over India’s financial capital.


For the opposition, the stakes could not be higher. After years of fragmentation in form of splitting of the Shiv Sena and the NCP, and the constant churn within the Congress, the local body polls are a test of survival. Losing further ground would mean forfeiting the ability to challenge the BJP in the 2029 assembly and Lok Sabha elections.


Daunting challenge

Their challenge is formidable. The BJP’s machinery is unmatched in reach and coordination, while opposition parties struggle to rebuild their grassroots presence. The voter list issue that Raj Thackeray has spotlighted betrays a deeper anxiety that its organisational weakness may translate into electoral irrelevance.


Adding complexity is the redrawing of political boundaries through the Supreme Court’s recent endorsement of 27% OBC reservation in local bodies. While this has removed a key legal obstacle to the polls, it has also reshuffled power equations. Caste arithmetic is being recalculated in wards and talukas across the state. For the BJP, which has successfully courted OBC leaders and voters in recent years, the new framework presents an opening to expand into previously resistant constituencies.


These polls are not merely about representation; they are referendums on governance. Flood relief, farm distress, water supply, and potholes will all become campaign fodder. The BJP hopes that its presence in the state and central governments will translate into credibility on development. The opposition, in turn, will highlight mismanagement, bureaucratic excess, and perceived neglect.


Many local bodies have been under administrative control for years due to delayed elections, eroding democratic accountability. Bringing them back under elected representatives will test not only the efficiency of the Election Commission but also the patience of voters who have long been governed by unelected bureaucrats.


Beneath the bustle of campaign rallies and social-media skirmishes, something more enduring is at stake. Control over local bodies is control over the sinews of the state through which money, influence, and loyalty flow. Congress once understood this, the Shiv Sena mastered it, and the BJP has now institutionalised it.


If the BJP succeeds, it will not simply win municipalities; it will entrench a political architecture that endures beyond individual leaders or alliances. For the opposition, even modest gains will be a sign that resistance is still possible.


For citizens, meanwhile, the polls are a chance to reclaim a measure of accountability, to demand that their local leaders deliver tangible improvements rather than grand promises.


As the campaign gathers pace, Maharashtra will witness a familiar choreography: roadshows, rallies, backroom alliance talks, and door-to-door canvassing. Every pothole and every flood relief package will become a talking point. Yet behind every local candidate stands a national strategy—a calculation for 2026, 2027, and beyond.


The fight for Maharashtra’s local bodies, then, is more than a civic contest. It is the battle for the basement of political power, the place from which empires in Indian politics are built.


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

 


Comments


bottom of page