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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.)

Malnutrition the Problem

Suyash Padate
Nov 12, 2024
2 min read
Malnutrition

To curb the infant mortality rate and reduce the percentage of malnutrition, the Maharashtra government took a decision for the newborns. The state government will distribute ‘Chief Minister baby care kits’ to the infants born in government hospitals and Public Health Centers (PHC’s) in the state. The intention behind the somewhat less publicised scheme is good but lets see how it travels across the state.


The Department of women and child development has claimed that out of the 20 lakh pregnant women (8 lakh in urban areas & 12 lakh in rural areas) who give birth annually, only 50 percent of such women get their names registered in the state health care centres and government hospitals. Moreover, around 4 lakh are first time mothers. As per this new Baby Care Kit Scheme, mothers of new born babies would be provided with baby care kits to encourage them to give birth to their child in hospitals. This would ensure that the children gets mother’s milk and proper nourishment. Such a scheme is operating in Andhra Pradesh, Tamil Nadu and Telangana and it has shown good results in those states. This scheme in Maharashtra will ensure that the Infant Mortality Rate (IMR) is reduced in the state. The Department has made the provision of Rs. 80 crore to provide the kits under this Scheme.


The kits will be distributed to all the women by the state government after their first delivery. The Chief Minister baby care kits will be distributed to pregnant and lactating mothers. The scheme is being implemented through the integrated child development services project and health department. The prime motive is to decrease the infant mortality rate. According to senior officials of the department many times, the newborn babies are placed on the floor in the tribal areas. Due to this the babies fell ill for want of warmth. So in order to take care of these infants, the Anganwadi Sevikas and other health employees are giving training to the mothers. At the same time providing warmth to the Infant and keeping them neat and tidy is also necessary and inevitable. So it was decided to give some items required to the mother and the newborn babies.


Considering all the requirements the Baby Care Kit is designed. This comprises baby clothes, a Small bed, towel, plastic diaper (Nappies), body massage oil, thermometer, mosquito net, woollen blanket, shampoo, nail cutter, hand gloves, socks, body wash liquid, hand sanitizer, woollen clothes for mother and small toys. The items in the kit which would cost around Rs. 2,000 in the market. For this scheme, the government has sanctioned Rs 20 crore in the first phase and the provision will be increased in the near future. This scheme will be implemented in the entire state for all the sections of the society. These kits are to be distributed free of charge for all the mothers who will be giving birth to the babies in government Primary Health Centre and government hospitals.

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