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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Duss (10) Suron Ki Sunoge, Toh Sahi Kaise Chunoge?”

Dussehra may have passed a few days ago, but its lessons remain relevant throughout the year. The festival celebrates Lord Ram’s triumph over Ravana, who is famously depicted with ten heads. In the world of personal finance, these “ten heads” can symbolize the overwhelming number of opinions and advice people receive when managing their money. If you listen to every voice and follow every trend, you will struggle to identify the right path for yourself. Learn Personal Finance: Knowledge is...

Duss (10) Suron Ki Sunoge, Toh Sahi Kaise Chunoge?”

Dussehra may have passed a few days ago, but its lessons remain relevant throughout the year. The festival celebrates Lord Ram’s triumph over Ravana, who is famously depicted with ten heads. In the world of personal finance, these “ten heads” can symbolize the overwhelming number of opinions and advice people receive when managing their money. If you listen to every voice and follow every trend, you will struggle to identify the right path for yourself. Learn Personal Finance: Knowledge is Power In today’s fast-paced world, financial advice is everywhere - friends, family, colleagues, social media influencers, and unsolicited internet tips. Not all of it will be relevant to your unique financial situation. To navigate through the noise, it is important to take control of your financial education. Start by understanding key financial concepts like risk, return, liquidity, and time horizon for different investment products. Risk refers to the potential loss you might face with an investment. Return is the profit you can expect to earn. Liquidity indicates how easily an asset can be converted into cash. Time horizon is how long you plan to invest before needing to access the funds. Learning these basics will help you evaluate which products actually suit your goals and needs. By educating yourself, you will develop a critical eye that helps you distinguish between helpful advice and distracting noise. Whenever you analyse any instrument, all four criteria (risk, return, liquidity, time horizon) must be considered together and aligned with your financial goals - such as children’s education, marriage, buying a home, vacations, cars, or retirement. Having a foundational understanding of these concepts ensures that you do not fall prey to quick-fix schemes or misleading suggestions that often sound attractive in the short run but prove damaging over the long term. Have a Financial Advisor: Like a Family Doctor for Your Finances As you educate yourself, you will eventually realise that managing your finances can be challenging. This is where having a reliable financial advisor, much like a trusted family doctor, plays a crucial role. Wealth creation is a marathon, not a sprint. While basic financial knowledge helps you understand the dos and don'ts, a financial advisor handholds you throughout the journey, guiding you towards your financial destination. A financial advisor tailors their guidance based on your unique profile - your income, savings, risk tolerance, and future financial goals. A good advisor helps you stay focused on long-term objectives while steering you away from emotional or impulsive decisions. Hence, it is important to have a well-qualified, full-time financial advisor. The Dussehra Reminder The message remains: do not listen to ten heads. Choose wisely, stay informed, and have a trusted financial guide by your side. After all, it takes years of education, experience, expertise, and wisdom to write a prescription - so do not self-medicate when it comes to your wealth! (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

The Maintenance Imperative

May 10
3 min read

On Technology Day, India’s future as a technological power will depend as much on a culture of maintenance as on innovation itself.

National Technology Day, observed on May 11, commemorates India’s successful Pokhran-II nuclear tests in 1998, a powerful demonstration of scientific capability, strategic ambition, and sustained national effort. These milestones rightly celebrate innovation and breakthroughs. Yet they also prompt a deeper reflection: such achievements rest not only on moments of genius but on decades of meticulous planning, testing, repair and upkeep. Technology thrives on continuity, discipline, and the unglamorous work of keeping complex systems operational over time.


The Pokhran-II tests, conducted under conditions of extraordinary secrecy, represented the culmination of decades of scientific institution-building that began soon after Independence. Under figures such as Homi Jehangir Bhabha and later Vikram Sarabhai, India invested heavily in indigenous scientific capacity despite scarce resources and international technology restrictions. The country’s atomic and space programmes evolved not through sudden bursts of innovation alone, but through years of patient experimentation, repeated setbacks, rigorous maintenance of facilities and the cultivation of technical expertise across generations. Even India’s early space missions depended on engineers improvising with limited infrastructure while carefully preserving and refining the systems they already possessed.


Costly Pattern

However, across India, a familiar and costly pattern persists. New infrastructure is inaugurated with fanfare, but maintenance often receives far less attention. Costly medical equipment in public hospitals lies idle for want of timely servicing or trained operators. Roads develop potholes within months. Water pipelines leak chronically, and public buildings deteriorate rapidly. These are not failures of design but of upkeep and institutional follow-through.


The economic toll is substantial. According to World Bank estimates, poor maintenance costs low- and middle-income countries at least $390 billion annually in infrastructure disruptions. In India, the maintenance and repair market is projected to grow from around $202 billion in 2024 to over $500 billion by 2033. Poor maintenance accelerates asset degradation, inflates long-term costs, and undermines returns on public investments.


History offers repeated warnings about the consequences of neglect. The decline of once-formidable public infrastructure in many postcolonial states was not always due to lack of ambition or engineering skill, but to inadequate maintenance cultures and weak institutional continuity. Even great empires understood this principle. The Romans maintained roads and aqueducts through disciplined administrative systems; the British Empire sustained its vast railway networks through relentless inspection and repair schedules. In post-Independence India, however, public discourse often celebrated the symbolism of construction more than the less glamorous responsibility of preservation. While ribbon-cutting ceremonies often attract political attention, maintenance budgets rarely do.


Lack of Maintenance

The neglect extends to education and research institutions. New laboratories and campuses are built, yet equipment becomes outdated or non-functional, buildings fall into disrepair, and even guest houses often fail to meet basic standards.


This mindset begins in our education system. Engineering, management, and vocational curricula focus heavily on creation and innovation while treating maintenance, reliability engineering, and lifecycle management as secondary concerns. We must elevate maintenance as a respected, technically rigorous field of study and practice.


Maintenance work itself remains largely invisible. Technicians, operators, and field engineers who keep systems running rarely receive the recognition given to designers. Yet a robust technological ecosystem depends equally on both.


Focusing on maintenance does not diminish innovation. It sustains and amplifies it. Well-maintained systems last longer, operate more efficiently, and free up resources for new endeavours. Industries using preventive and predictive maintenance have reported up to 30% reductions in overheads and sharp drops in unplanned downtime.


Policy and cultural shifts are essential: dedicated long-term funding for asset maintenance, stronger accountability through performance audits and uptime incentives, greater investment in training maintenance professionals, integration of reliability engineering into mainstream curricula, and wider adoption of tools like IoT-based predictive monitoring.


As India aspires to become a developed nation and global technology leader, success will be measured not only by what we build but by how reliably we keep it running. A truly technological society honours the full lifecycle of its creations.


On this Technology Day, let us recognise the quiet professionals who maintain our systems daily and commit to building a national culture of maintenance. Nations do not fail for lack of bold ideas; they falter when they stop sustaining what they have built.


(The writer is an ANRF Prime Minister Professor at COEP Technological University, Pune, and former Director of the Agharkar Research Institute, Pune. Views personal.)

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