Will these mutual funds help me to create Rs 30 to 40 lakh in 6 years?

incomeI am 21 years old and investing around Rs 5,000 through SIPs in various mutual fund schemes. Is my portfolio good? Please help.

Mirae Asset Tax Saver Fund
Franklin India Ultra Short Bond Fund
Reliance Gilt Securities Fund
Reliance Liquid Fund
ICICI Prudential Bluechip Fund
Motilal Oswal Long Term Equity Fund

Recently, I have also invested Rs 5,000 in Mirae Asset Focused Fund.

My aim is to create maximum wealth. Basically, my idea is to earn regular income from liquid funds and earn huge by investing for as long as 5 to 6 years. But my investment plan is not beyond six years.

In every SIP I am investing Rs 500 per month.

Approximately 30 to 40 lakh in six years is what you can take as my goal.
—Chitransh Chitu

Suresh Sadagopan, Founder, Ladder7 Financial Advisories, responds: 

By investing Rs.5,000 per month, one cannot reach a target of Rs 30-40 lakh in six years. The investment needed would be a lot more.

You need not invest in so many funds. I would suggest you one diversified multi cap fund for allocation across market capitalisations. You may invest the entire amount in this fund. The multi cap fund that I would suggest is Mirae Asset India Equity Fund. You may also invest in debt funds for your liquidity needs.

When your (you) income increases, I would suggest you increase your SIP amount, too. You may add more schemes to your portfolio later as and when you increase your SIP.