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....

min read

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.)

Road safety council not met since April 2023

PTI

Jun 8, 2025

3 min read

By Kailash Korde

Mumbai: Despite Maharashtra witnessing 36,567 fatalities and 83,820 road accidents between January 2023 and April 2025, a top road safety council headed by the state transport minister has not met even once in two years, officials said on Sunday.

Such is the situation that current transport minister Pratap Sarnaik said he was not even aware of the existence of the State Road Safety Council.

The last meeting of the State Road Safety Council was held on April 4, 2023 under Eknath Shinde, current Deputy Chief Minister. He was CM at the time and held the transport portfolio, these officials said.

After the Maharashtra government constituted the council as per rule 215 of Central Motor Vehicles Rules in May 2015, biannual meetings, which are mandatory, were held regularly till 2019, following which which only four meetings took place till 2023, they pointed out.

From 2015, there should have been 20 meetings of the State Road Safety Council as per rules but only 12 have taken place, a senior official said on condition of anonymity.

Council’s job

As per officials, the council mainly reviews accident data, monitors the implementation of safety measures, and issues policy directives, adding that it is a crucial platform for eradication of black spots, assess enforcement gaps, and coordinate between various departments.

Its complete inaction reflects administrative apathy, a retired RTO official said.

"I am unaware of the existence of the State Road Safety Council. It is unfortunate my department did not even inform me about such an important body. I will convene a meeting of this council in June itself," Sarnaik, when contacted, told PTI.

Maharashtra Transport Commissioner Vivek Bhimanwar, who is also member-secretary of the council, said meetings could not be held primarily due to the election code of conduct.

Maharashtra witnessed Lok Sabha polls in May-June 2024 and assembly polls some months later in November.

Bhimanwar, however, said several other meetings, including those of high-power committees, were held to discuss road safety issues and important decisions were taken.

The file for convening a meeting of the State Road Safety Council is in motion and it will happen soon, he asserted.

Activists and experts emphasized that meetings of statutory bodies like the State Road Safety Council must be conducted regularly.

"In order to achieve the target of reducing deaths and injuries by 50 per cent by 2030, we need to have a clear action plan with targets for each department and associated budgets, said Ranjit Gadgil, programme director of Pune-based NGO Parisar.

"Rajasthan has recently made such a plan. Maharashtra should also revise the 2018 action plan and develop a programme, which should be reviewed periodically by statutory committees such as the State Road Safety Council," Gadgil said.

Huge registration

Maharashtra has over 4 crore registered vehicles, and witnesses more than 35,000 accidents and 15,000 deaths annually, with the grim figures continuing to rise, raising serious questions on effectiveness of road safety measures, experts said.

The transport department has been with the Shiv Sena since Shinde became CM in June 2022. He held it in his government and Sarnaik became transport minister when the Devendra Fadnavis dispensation came to power in December last year.

RTO officials said it was the responsibility of the transport minister or transport commissioner to convene meetings of the council. On May 13, 2015, the Maharashtra government constituted the State Road Safety Council headed by the transport minister, along with district road safety committees.

The Maharashtra transport commissioner is member-secretary of the 22-member committee, which includes eight special invitees.

Other members include the Public Works Department (PWD) Minister, Minister of State for Transport, Minister of State for PWD.

Modak and the Art of Investing

Road safety council not met since April 2023

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