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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.)

Ajit Pawar isolated in Mahayuti

Writer: Abhijit Mulye
Abhijit Mulye
Jan 17
4 min read

'Pawar Power' crumbles in urban Maharashtra

Mumbai: The experiment was desperate, and the result, disastrous. The decision by Deputy Chief Minister Ajit Pawar to reunite with the Sharad Pawar-led NCP (SP) for the Municipal Corporation elections was meant to be a masterstroke to reclaim the family’s bastion in Pune and Pimpri-Chinchwad. Instead, the colossal loss has not only dented the "Pawar" brand but has pushed Ajit Pawar into the most precarious position of his political career.


As the BJP celebrates its expansion across Maharashtra, the defeat raises existential questions for the NCP factions. For Ajit Pawar, the "Dada" of Pune politics, the loss is personal. It signals a diminishing grip on his home turf and drastically reduces his bargaining power within the ruling Mahayuti alliance.


Myth of Unity

The narrative leading up to these polls was one of reconciliation for survival. The story traces back to 2017, when the loss of Pimpri-Chinchwad first sowed the seeds of discord, eventually leading Ajit Pawar to embrace the BJP. Nine years later, facing the saffron juggernaut, the factions attempted a tactical reunion for the civic polls.


However, the voters saw through the cracks. The unity was merely on paper. NCP (SP) supremo Sharad Pawar remained conspicuously absent from the campaign trail. He did not attend the meetings that forged the alliance, nor did he address rallies. Even Working President Supriya Sule limited her involvement to a manifesto release in Pune, avoiding joint rallies with her estranged cousin.


"The message was clear—the heart wasn't in it," remarked a political observer. "The voters of Pune and Pimpri-Chinchwad realized that a patchwork alliance without the visible blessing of the patriarch was hollow. Unity alone is not enough to counter the BJP’s aggressive urban development narrative."


Double Standards

Ajit Pawar’s strategy of running with the hare and hunting with the hounds has backfired spectacularly. While sitting as Deputy Chief Minister in the state government, he chose to openly level corruption allegations against the BJP during the PCMC campaign. This duality has infuriated his state allies. The backlash was swift and public. BJP State President Ravindra Chavan did not mince words, stating the party “regretted taking Ajit Pawar along.”


This puts Ajit in a vulnerable spot. His faction was already under pressure after two ministers were forced to resign over criminal charges. Now, stripped of his local dominance and viewed with suspicion by the BJP, his leverage is at an all-time low.


Power Struggle

The immediate beneficiary of Ajit Pawar’s decline is likely to be Chief Minister Eknath Shinde. Until now, the Ajit Pawar faction had tried to dominate the Shiv Sena (Shinde) within the alliance.


"With these results, the tables have turned," says a Mantralaya insider. "Shinde has held his ground in his strongholds, while Ajit has lost his. We can expect the Shiv Sena to be far more assertive, potentially bogging down the NCP in the state cabinet."


Road Ahead

For Ajit Pawar, the options are shrinking. Unlike his uncle, he does not have the luxury of fluidity. Being in power is his lifeline. Despite the humiliation and the "regret" expressed by the BJP, he is compelled to stay in the government, accepting whatever terms are dictated by the emboldened Fadnavis-Shinde combine.


For Sharad Pawar, the calculus is different but equally grim. The urban voter has moved away, and the "Pawar magic" seems to be fading in the cities. A senior state party leader suggested a radical path forward: a merger with the Congress.


"The latest challenge is keeping the flock together after such a dismal performance," the leader noted. "Age is not on Saheb's side. To ensure the survival of his trusted soldiers and the ideology, merging with the Congress might be the only way to consolidate the opposition vote bank."


All eyes now turn to the Zilla Parishad (ZP) elections scheduled for next month. This will be the true litmus test for the Pawars' existence. While the cities may be lost to the BJP's "Infra Man" image, the rural heartland has traditionally been the NCP's fortress.


If Ajit Pawar fails to deliver in the rural belt, his transformation from a kingmaker to a liability will be complete. For now, the "Devabhau era" has cast a long shadow over Baramati, and the sun seems to be setting on the unquestioned dominance of the Pawars in western Maharashtra.


The Growth Story

  • BJP has won 1,430 seats in the civic polls, up from 1,137 in 2017

  • Shiv Sena won 397 seats across the 29 civic bodies

  • NCP secured 160 seats

  • Shiv Sena (UBT) won 153 seats statewide, a sharp decline from the 501 seats it had won in 2017

  • The NCP (SP) managed only 36 seats, down from 309 in 2017

  • The MNS, which had won 27 seats in 2017, is reduced to 13 this time

  • Smaller parties and independents won a total of 357 seats


“Voters are important, and every political party must continue its efforts. The BJP has achieved significant success, and I congratulate the party for its performance. These civic polls were fought by the BJP under the leadership of Chief Minister Devendra Fadnavis, and the other parties had to face defeat. The party will sit and discuss the outcome. We are working in Mahayuti together and our work is going on.”

Ajit Pawar, Chief, NCP


“I will not say that people have rejected dada, rather they have accepted the leadership of Prime Minister Modi, the BJP and us. I had met Ajit Pawar on the voting day (January 15) when he told me that he would not be attending the cabinet meeting.”

Devendra Fadnavis, Chief Minister


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