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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.)

Target Unemployed Youths

Suyash Padate
Nov 18, 2024
2 min read
Yuva Karya Prashikshan Yojana

In an effort to combat young unemployment, the Maharashtra government has launched the Mukhyamantri Yuva Karya Prashikshan Yojana (Chief Minister Youth Work Training Scheme). The government introduced this scheme with the aim to provide valuable internship opportunities, equipping young individuals with essential skills and enhancing their employability in a competitive job market. The government has made provision of Rs 5,500 crore for the scheme. Candidates aged between 18 to 35 years and residing in Maharashtra are eligible to apply under the scheme. Minimum educational qualifications range from 12th pass to post-graduation, ensuring a broad spectrum of youth can benefit from practical training opportunities. Industries and establishments operating within Maharashtra, registered with the Department of Skills, Employment, Entrepreneurship and Innovation, are also encouraged to participate in this new government venture.


The Chief Minister announced this scheme. While outlining the details of the scheme, the CM emphasized its potential impact on enhancing youth employment prospects. “Under this initiative, the government will provide a stipend of Rs 6,000 for 12th pass candidates, Rs 8,000 for those with ITI and diploma qualifications, and Rs 10,000 for graduates and postgraduates,” Shinde stated, highlighting the varying levels of support based on educational attainment. Key features of the scheme include a six-month internship duration and a stipend structure designed to support interns based on their educational qualifications. Interns will receive monthly stipends through Direct Benefit Transfer (DBT).


According to the State government, the scheme is expected to not only empower the youth with practical skills but also foster entrepreneurship and innovation across various sectors within Maharashtra. This initiative nurtures a skilled workforce capable of contributing effectively to the state’s economic growth and development. It seeks to give valuable internship opportunities for young people, equipping them with critical skills and increasing their employability in a competitive labour market. However, this scheme received a setback as it was challenged in the High court.


A Public Interest Litigation (PIL) was filed in the Bombay High Court against the ‘Mukhyamantri Majhi Ladki Bahin Yojana’ and ‘Mukhyamantri Yuva Karya Prashikshan Yojna’ schemes announced by the Maharashtra government. The petitioner sought an interim order to stay implementation of the scheme, as the amount will be disbursed to beneficiaries later this month. In a praecipe, the petitioner said, “Due to the Government’s schemes there is an additional burden on direct and indirect taxpayers and the exchequer. Taxes are for infrastructure development and not for irrational cash schemes. The scheme costs around 4,600 crore, which is a huge burden for a debt-ridden State that already owes 7.8 lakhs crores. The high court dismissed the PIL challenging both the schemes.

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