Help me to select 8-9 mutual fund schemes

I am 25 years old. I currently earn around Rs 40,000 per month. I am planning to invest around Rs 2,000 per month (in direct plans) in the following mutual funds. I have a long-term goal. My main aim is to diversify my portfolio by investing in various sectors.
1. Axis Long Term Equity Fund
2. DSP BlackRock Tax Saver Fund
3. SBI Bluechip Fund
4. L&T Midcap Fund
5. L&T Emerging Businesses Fund (either midcap or emerging)
6. L&T Infrastructure Fund
7. L&T India Prudence Fund (balanced fund)
8. Tata Banking and Financial Services Fund (bank sector)
9. Tata India Consumer Fund (FMCG)
10. Tata risk progressive (Balanced fund)
11. Tata Equity PE Fund
12. UTI Pharma Fund (One of the pharma sector funds)
I am planning to invest a small amount in pharma considering it can rebound from its existing situation. Please help me pick eight or nine funds out of these for monthly SIPs of Rs 2,000. I have moderate-to-high risk appetite, so I can afford to invest in funds that have risk. Apart from this, I am also planning to get Rs 10,000 in recurring deposits for liquidity purposes.
--Sahil Sehgal

Rishabh Parakh, Chief Gardener and Founder Director, Money Plant Consulting, responds:

It is good to have a well-diversified portfolio but you should not invest in eight to nine funds. You might end up investing in the entire universe of the stocks and such diversification shall not be useful to you.

Since you are ready to invest Rs 16,000-18,000 via SIPs, I would ask you to invest in the schemes mentioned below (considering the options you have listed and also your risk appetite):

Axis Long Term Equity Fund (ELSS)
L&T Emerging Businesses Fund
SBI Magnum Multicap Fund
Tata Banking & Financial Services Fund
UTI or Reliance Pharma Fund
Mirae Asset Emerging Bluechip Fund

You can also reduce the RD amount and invest the same in SIPs. Plan your financial goals comprehensively and take a decision on it.