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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.)

Worries Over Displacements

Nov 8, 2024
2 min read

If we see thoroughly, it is a clear-cut fact that dams and reservoirs provide economic and social benefits that contribute drastically to the management of water, which is becoming an inadequate resource. Nevertheless, these dams and reservoirs may have undesirable environmental and social impacts. The most challenging social impact of dams is the displacement of native people. This is one of the worst impacts of the dam construction on communities, people, all the families in the vicinity and even some villages that have been forced to leave their homes and relocate somewhere else. Therefore, there is tremendous pressure on the government for detailed and accurate assessments by experts to anticipate the socio-economic impacts. The dam affected and displaced people are more in number in Maharashtra than any other state.


Peasants in Maharashtra fought the first struggle against dams in early 1920s, which opposed the Mulshi dam built by the Tatas. Significantly, this is the first known movement organized by the dam-affected persons in India and throughout the world. However, for various reasons, this movement failed. Since then, the fight for survival of displaced people has continued. The venue might be different in the state but the pursuit to get justice is never-ending.


The Sardar Sarovar Dam was proposed in 1961 on the Narmada river near Navagam in Gujarat. It is the largest in a series of large irrigation and hydroelectric multi-purpose dams on the river. The dam has been the focal point of one of India’s largest public movements against mass displacement of farmers, fisherfolk and indigenous people living within the submergence area of the dam. The movement against the dam, known as Narmada Bachao Andolan (NBA), is led by social activist Medha Patkar.


Initially the government identified 2,000 families equivalent to about 1,50,000 people -- as affected in the states of Madhya Pradesh, Maharashtra and Gujarat. The Sardar Sarovar Dam’s construction was completed to its full height of 138.68 metres in 2017, and the NCA permitted filling the dam to its full capacity based on a clearance from its rehabilitation sub-group that all families had been rehabilitated. Thirty-three villages in Maharashtra were submerged, 4,300 families displaced. According to data from the Narmada Bachao Andolan, 4,135 families were resettled over the last 25 years. Efforts are under way to rehabilitate remaining families, this is a reply form the Maharashtra government for last two decades.


The most challenging social impact of the dam is the displacement of native people. During the vacation their ancestral land and houses were acquired by the government. They are still living in re -settlement. Government forcefully tried to shift them to villages. Some villagers, particularly the old people, succumbed to the strong-arm tactics. But still there are people who are relentlessly fighting for the cause. They categorically refused to move out of the submerged area.

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