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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.)

Local Votes, Larger Reckonings

Dec 19, 2025
4 min read

The eagerly-anticipated municipal elections in Maharashtra will decide which parties truly own urban India’s second-most powerful state.

The forthcoming municipal elections in Maharashtra, covering 29 municipal corporations, are officially exercises in local self-government. In practice, they are something closer to a mid-term audit of the State’s political balance. From Mumbai to Pune, Nagpur to Nashik, Sambhajinagar to Kolhapur, these contests will test which parties command genuine urban support and which survive mainly on alliances, symbolism or inertia.


Municipal elections matter precisely because they are small. They are fought ward by ward, lane by lane, complaint by complaint. Unlike assembly or parliamentary polls, they reward visibility over rhetoric and delivery over ideology. Roads that cave in after the monsoon, water taps that run dry by noon, garbage piles that outlast election posters are the metrics by which corporators are judged. Urban voters, particularly the middle class, are unforgiving. They pay taxes, queue for permissions and sit in traffic; civic failure is not an abstraction but a daily irritation. That is why municipal polls so often unsettle grand political calculations.


Nowhere is this more evident than in Mumbai. Control of the Brihanmumbai Municipal Corporation (BMC), one of Asia’s richest civic bodies, has long been a proxy for political dominance in Maharashtra. The BJP, allied with Deputy Chief Minister Eknath Shinde’s Shiv Sena, sees the BMC as both a prize and a proof point: a chance to consolidate power in India’s financial capital and demonstrate that its urban ascent is durable. For the Shinde faction, Mumbai is existential. It must show that it has inherited not just the party name but the Shiv Sena’s organisational muscle and voter loyalty.


Yet the arithmetic has been complicated by the tentative reunion of estranged cousins. The understanding between Uddhav Thackeray and Raj Thackeray has injected emotion into what was shaping up as a managerial contest.


For voters nostalgic about the older, more culturally assertive Shiv Sena, the optics are powerful. But sentiment alone rarely wins ward elections. Coordination, candidate selection and booth-level discipline will determine whether this rapprochement translates into votes. Congress’s decision to contest independently in Mumbai further muddies the waters, potentially fragmenting opposition support and quietly aiding the BJP-led alliance. Had the Thackeray brothers reconciled earlier, the shockwaves would have been greater. As it stands, the reunion is meaningful but not yet decisive.


Urban Aspirations

Pune tells a different story. A fast-growing, middle-class-heavy city, it is impatient with excuses. Traffic congestion, erratic water supply, weak public transport and haphazard development dominate civic conversations. The BJP has built a formidable base here and will seek to defend it, but discontent with planning failures and internal leadership rivalries could prove costly. Opposition parties hope that anger over infrastructure will convert into ballots, though dissatisfaction does not always find an electoral outlet.


The simmering question is whether Sharad Pawar and Ajit Pawar will eventually align. They tend to unite when power beckons, but Sharad Pawar’s political timing is famously inscrutable. The rivalry between figures such as Murlidhar Mohol and Ravindra Dhangekar adds another layer of risk for the ruling alliance.


Nagpur carries symbolism disproportionate to its size. Home to Chief Minister Devendra Fadnavis and Union minister Nitin Gadkari, it is expected to showcase the dividends of political prominence. Voters will judge whether that prominence has delivered better roads, reliable water and thoughtful expansion. A strong showing would reinforce the BJP’s governance narrative; signs of fatigue would echo across the state. Nagpur’s politics has turned before, often when confidence shaded into complacency. Caste equations remain influential, making candidate choice as important as party brand.


In Nashik, complexity reigns. The city sits at the intersection of rapid urbanisation, religious tourism and an agriculture-linked economy. Civic issues have kept leaders under scrutiny. Alliances are fluid and local heavyweights matter.


The forthcoming Simhastha Kumbh Mela and the controversy over tree-felling at Tapovan have tested the BJP’s credibility. Delayed communication and reactive decision-making have not helped. Unless the chief minister intervenes decisively, winning Nashik’s corporation could remain elusive for the ruling party.


Sambhajinagar reflects Maharashtra’s layered politics: identity, aspiration and impatience entwined. Frequent political shifts signal voter frustration with promises unmet. Employment, industrial growth and infrastructure dominate middle-class concerns. Symbolism alone will not suffice. The BJP’s local organisation appears weaker here, potentially giving the Shinde camp an edge. An overly aggressive approach by the BJP could backfire, especially with the Uddhav Thackeray faction and the MNS poised to exploit gaps.


Kolhapur, by contrast, underscores the enduring power of local leadership. Flood control, urban amenities and agriculture-linked support systems shape voter preferences. National parties struggle if they fail to adapt their narratives to local realities. Individual credibility often outweighs party labels, making candidate selection crucial. While the BJP and the Shinde-led Sena see an opening amid civic underperformance, Congress and Ajit Pawar’s group remain formidable. For Congress leader Satej Patil, the contest is a direct test of political heft.


Across Maharashtra, the BJP–Shinde alliance remains the dominant pole, but seat-sharing disputes and local ambitions threaten cohesion. The Thackeray cousins’ cooperation could reshape contests in select cities if discipline holds. Congress’s solo run adds volatility, especially where margins are thin.


For urban voters, these elections are an opportunity to influence governance where it touches daily life. Corporators who answer calls, navigate bureaucracy and deliver incremental improvements often matter more than lofty manifestos. The municipal verdicts will therefore measure not just political strategy but public patience.


When the ballots are counted, they will do more than populate city councils. They will reveal which parties have invested in local leadership and which have mistaken alliances and slogans for organisation. In Maharashtra, the road to power still runs through the city street.


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

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