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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 Pawar Who Trips Often

Nov 8, 2025
3 min read

Struggling NCP heir Parth Pawar’s newest scandal revives old doubts about Maharashtra’s most accident-prone dynast.

A Rs. 300-crore land deal gone awry in Pune has once again cast an unflattering light on Parth Pawar, son of Nationalist Congress Party (NCP) leader and Maharashtra’s Deputy Chief Minister Ajit Pawar and grand-nephew of the formidable Sharad Pawar.


Parth has long been a magnet for controversy, the sort of heir whose every attempt to prove his worth seems to end in embarrassment. His dismal record is one long stumble through politics, business and public perception, leaving his family scrambling to contain the damage.


The latest scandal involves the sale of 40 acres of Mahar Vatan government land in Pune’s upscale Mundhwa area to Amadea Enterprises, where Parth is a partner. The transaction, valued at Rs. 300 crore, was registered without the required No Objection Certificate (NOC) from the state and with the stamp duty mysteriously waived. Officials say this caused a loss to the exchequer. The sub-registrar responsible has been suspended, and a high-level committee has been constituted to investigate the “serious irregularities,” as Chief Minister Devendra Fadnavis put it.


The facts are damning. The land in question, records show, was listed in the name of Mumbai Sarkar. Yet it was sold by 272 individuals to Amadea through a power of attorney granted to one Shital Tejwani. The transaction, astonishingly, was registered at a token value of Rs. 500 while availing an exemption even as a 2 percent local and metro cess, amounting to Rs. 6 crore, was conveniently ignored.


As the news broke, the Opposition Maha Vikas Aghadi (MVA) predictably pounced upon Parth, putting the ruling Mahayuti coalition on the defensive. “Zero tolerance for corruption,” declared BJP minister Nitesh Rane, even as his own government scrambled to explain how the son of a sitting Deputy CM had managed to buy government land.


Ajit Pawar’s response was as swift as it was familiar. His son, he insisted, was “not aware” that the land was government-owned. The transaction, he said, had been “cancelled” and “no money had changed hands.” Parth and his business partner Digvijay Patil, he claimed, had agreed to withdraw the deal “to avoid even a suspicion of wrongdoing.” For good measure, Ajit Pawar added that he had given CM Fadnavis a free hand to probe “any irregularities” involving his family.


The explanation has done little to quell the ridicule. For Parth, it is yet another addition to a growing résumé of ‘misjudgements.’


Parth first stumbled into public view in 2019 when he contested the Lok Sabha election from Maval in Pune district. At the time, Ajit Pawar had lobbied relentlessly to secure his son the ticket and had campaigned furiously across the constituency to secure his victory. Yet the result was nothing short of catastrophic. Parth lost by over 300,000 votes to Shiv Sena’s Shrirang Barne, becoming the first member of the Pawar family ever to lose an election.


The reasons were plain to voters, if not to Parth. Removed from his sheltered Mumbai upbringing, the English-speaking scion cut an awkward figure on the campaign trail. His maiden speech, lasting barely three minutes, was marred by stutters and hesitations. Social media pounced, christening him ‘Maharashtra’s Pappu.’


Since then, his public interventions have been marked less by conviction than by confusion. He has repeatedly contradicted his party’s positions — from supporting the Maratha quota agitation against the NCP’s cautious line to making impetuous remarks in the wake of actor Sushant Singh Rajput’s death. His grand-uncle Sharad Pawar, normally the embodiment of political restraint, was moved to rebuke him publicly as “immature.”


If the 2019 debacle dented Parth’s political future, subsequent controversies have cemented his reputation as a liability. In 2021, when Income Tax authorities raided businesses linked to Ajit Pawar’s relatives, Parth’s own Mumbai office was not spared. That episode, like this one, ended with clarifications and a familiar refrain of innocence.


To his father’s allies, the younger Pawar’s misadventures are an unfortunate byproduct of dynastic politics. To his detractors, he is a symbol of everything wrong with Maharashtra’s political elite: entitled and unmoored from the public he seeks to represent. Even in the latest scandal, Parth has not spoken publicly, allowing his father to clean up after him.


For now, the government’s probe may well find bureaucratic lapses rather than criminal intent. But in politics, nothing matters like perception. And the perception of Parth Pawar, as the bumbling heir whose every step lands in a puddle, is proving hard to shake.

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