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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar....

Modak and the Art of Investing

As the aroma of freshly steamed Modaks fills homes during Ganesh Utsav, the festive spirit comes alive instantly. My mouth is already watering at the thought! The humble Modak, prepared with love to honour Lord Ganesha, may look simple from the outside. But anyone who has tried making one knows that a good Modak depends on several things coming together - the right ingredients, the right recipe, patience with the process, and finally, enjoying the result. Investing is surprisingly similar. Choose the Right Ingredients A Modak is only as good as the ingredients that go into it. Fresh coconut, good-quality jaggery, properly prepared rice flour and the right flavours all contribute to the final result. Our investments and financial products are the ingredients of our financial plan. Equities, mutual funds, fixed income, gold and other investments each have a specific role to play. The objective is not to pick whatever appears most exciting at the moment, but to select suitable, good-quality investments that match our financial goals, time horizon and ability to take risks. Health and life insurance are equally important ingredients. Adequate coverage helps protect savings, the family, and their financial goals and dreams. Good ingredients provide the foundation. But ingredients alone are not enough. Get the Recipe Right You may have the finest ingredients in the kitchen, but if the proportions are wrong, the Modak may still not turn out well. The same applies to investing. Asset allocation is the recipe of a financial plan. Too much of one ingredient can spoil a Modak. Similarly, excessive concentration in one asset or too much money in low-return products can spoil a portfolio. Balance is key. A thoughtfully constructed portfolio brings different investments together in the right proportions. To keep asset allocation very simple - short-term goals can be planned through bank fixed deposits, recurring deposits and debt mutual funds. For long-term goals, one can consider hybrid mutual funds, equity mutual funds or direct stocks. Trust the Process Once the Modak is shaped and placed for steaming, constantly checking whether it is ready will not make it cook faster. Investors often make the same mistake. We keep checking markets, reacting to every correction, chasing recent performers or changing strategies because of short-term noise. Good investing requires patience and discipline. Invest regularly, review periodically and allow your financial plan enough time to work. Compounding is powerful precisely because it rewards those who remain invested for long periods. Sometimes, the best thing an investor can do is simply avoid unnecessary interference. Enjoy What You Have Created Finally comes the most important part - eating the Modak! The purpose of investing is not merely to accumulate the largest possible number on a statement. Wealth should eventually help us fulfil our goals, support our families, create financial security and enjoy life with greater peace of mind. A good Modak needs the right ingredients, the right recipe and trust in the process. A good investment journey needs exactly the same. This Ganesh Utsav, may Bappa bless us with the wisdom to make good financial choices, the patience to stay disciplined, and the prosperity to enjoy the fruits of our efforts. Ganpati Bappa Morya! (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

After the Mandate, the Test of Governance

Feb 9
4 min read

With a sweeping municipal mandate in hand, Maharashtra’s ruling alliance must prove that concrete victories can translate into everyday competence.

Nearly a month after the January 15 civic polls, the BJP-led Mahayuti is consolidating its clear majority in most of the 29 municipal corporations. While the election of mayors and deputy mayors nears completion, the formation of key standing committees remains stalled. For city administrations emerging from years of bureaucratic oversight under administrators, these delays are bottlenecks that undermine the very capacity of local bodies.


The unexpected political developments following Ajit Pawar’s exit from public life introduced a moment of uncertainty within the alliance, and a brief period of recalibration was perhaps inevitable. But such contingencies cannot become a justification for prolonged indecision. The message from urban voters was clear: after they had delivered an overwhelming mandate, they expect administrative momentum, and not the games of political manoeuvring or brinkmanship.

Lived Realities

The mandate comes at a time when claims of urban transformation through big-ticket infrastructure projects are increasingly being tested against lived realities. The recent incident on the Mumbai–Pune Expressway, which caused an unprecedented traffic snarl of more than 24 hours after a gas tanker overturned near the Adoshi tunnel on the Pune–Mumbai Expressway, exposed serious gaps in the administration’s preparedness. Social media was rife with harrowing stories of the sufferings of stranded commuters, especially the elderly and the children. The grossly inadequate emergency response and utter lack of coordination between government agencies underscored an uncomfortable truth that wide roads and flyovers alone do not constitute development.


Over the last decade, infrastructure has dominated political discourse in Maharashtra’s cities. Expressways, metros, monorails, flyovers and coastal roads have been projected as markers of progress. While these projects are undoubtedly important and often necessary, they operate on long timelines and deliver benefits unevenly. What citizens experience daily are broken roads, erratic water supply, polluted air, unreliable public transport, unchecked construction and visual chaos. And these are the parameters that determine whether or not a city is liveable.


No Excuses

The BJP and its allies have made expansive promises in their municipal election manifestos. Improved civic amenities, cleaner air and water, efficient public transport, better road safety and responsive local governance featured prominently. With control over most corporations and without dependence on non-NDA parties, the Mahayuti can no longer fall back on political constraints as an explanation for inaction.


For the last three to four years, municipal corporations were run by administrators. Political parties routinely argued that the absence of elected representatives was the reason citizens’ grievances went unaddressed. That argument has now run its course. Elections have restored democratic accountability at the local level. If basic services continue to falter, responsibility will lie squarely with the elected leadership.


The warning signs are already visible. In a clear indicator of declining air quality, doctors across urban centres have flagged a rise in respiratory ailments. Traffic congestion, poor road design, and indiscipline continue to contribute to a steady number of accidents. Unauthorized banners and hoardings disfigure city skylines, while incessant and poorly coordinated road digging disrupts daily life. These are not abstract policy challenges but immediate, everyday failures of municipal governance.


Urban administration is often dismissed as unglamorous, but it is precisely here that governments earn or lose public trust. The management of waste, enforcement of traffic rules, regulation of construction, maintenance of roads, and protection of open spaces require sustained attention, not headline-grabbing announcements. They demand coordination between departments, empowered committees, and a willingness to prioritise citizens over contractors, optics, or unwarranted political interference.


Moment of Accountability

During the election campaign, Chief Minister Devendra Fadnavis was asked in an interview whether cities should be “liveable” or “loveable.” His response was characteristically crisp: once cities become liveable, they will automatically become loveable. The remark resonated because it captured an essential truth. Emotional attachment to a city grows from functional competence — from clean streets, breathable air, safe roads, and predictable public services.


That statement now returns as a benchmark against which the Mahayuti’s urban governance will be judged. The alliance has the numbers, the political stability, and the administrative experience. What it needs to demonstrate now is urgency. The delayed formation of key municipal committees sends the opposite signal.


It must also be remembered that civic issues transcend any political ‘ism.’ Roads, water, air quality, waste management, and public transport affect every resident, irrespective of party allegiance. The responsibility of governance is not to serve ideology but to deliver tangible improvements in the daily lives of citizens.


Rhetoric may help win elections, but it does not build confidence. Nor does it make cities liveable, let alone loveable. The electorate has done its part. It is now for the ruling dispensation to show that its emphasis on infrastructure is matched by an equally strong commitment to everyday governance. The real test of the mandate will not be measured in kilometres of concrete laid, but in whether citizens feel a tangible difference in their daily lives.


(The writer is a political commentator. Views personal.)

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