A good (minimum, I would say) start is to have a 50:50 equity-debt allocation. For less conservative, this canbe modulated to 60:40 or 70:30. For very aggressive, it can even be increased to 80:20. Identify a single diversified equity fund for the equity allocation. Later on, you can start adding more funds, or direct stocks or international stock/funds, as per knowledge increase and comfort zone. Identify a single decent debt fund (I will stress on having a debt fund, rather than a PPF because of the latter's illiquidity, but YMMV). Endowment / money-back policies, PPF, PF, NSC, etc also come under this basket only because of their lock-ins.