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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.)

Toll Waiver to Make Impact

Suyash Padate
Nov 23, 2024
2 min read

Updated: Nov 25, 2024

Toll Waiver

Keeping an eye on the state assembly polls, the Maharashtra cabinet took the decision of a full toll waiver for light motor vehicles at all five toll booths entering Mumbai. This decision was taken in the final cabinet meeting just a day before the elections were announced. Commuters are now travelling with small vehicles without paying tolls at Dahisar, Mulund, Vashi, Airoli, and Tin hat Naka. The toll charge was Rs 45. While announcing this decision the Chief Minister Eknath Shinde said, “There was a demand for the toll waiver due to the traffic jams at the toll booths. The toll waiver move will now save time, fuel and reduce pollution. It was a long pending demand to waive toll at Mumbai’s entry points. Many activists had approached the court demanding the toll waiver. Just like we implemented Laadki Bahin, Laadka Bhau and Laadka Kisan yojana, now the government has taken this “masterstroke” decision for the commuters”. Nevertheless, it was a relief for the commuters as they can now avoid a long queue at the toll nakas.


Significantly, this much discussed move of the state government came just ahead of the state assembly polls. More than six lakh vehicles cross Mumbai daily, of which 80 per cent are light motor vehicles. Rs 45 and Rs 75 were charged for light motor vehicles at any of the five toll booths. There are around 70,000 heavy vehicles travelling to and from Mumbai daily. Heavy vehicles are categorised by their gross vehicle weight exceeding 7,500 kg and include trucks, trailers, tankers and other goods carriers’ vehicles. The toll waiver is among the more than 150 decisions taken in a spate of state cabinet meetings within the span of a fortnight. Due to which the government’s intention behind this decision is underscored.


As per the expectation strong political reaction came to the fore after the announcement. The MNS chief Raj Thackeray, whose party workers have on many occasions vandalised toll booths, welcomed the Maharashtra government’s decision to waive the toll for light motor vehicles. “Congratulations to my Maharashtra soldiers. We fought hard for the demand for transparency in toll transactions. We were criticised for vandalising the toll booths but now every Mumbaikar can travel toll-free,” he had stated. He even hoped that the decision was not taken keeping in mind the upcoming assembly polls. The leaders of the opposition parties criticised the government’s decision saying it’s a poll gimmick.


The construction of these toll booths was initiated in 1999 to recover the costs of 55 flyovers built by the Maharashtra State Road Development Corporation under the leadership of then Minister Nitin Gadkari. The toll collection began in 2002, with activists arguing that the maintenance costs and initial investments were recovered over a decade ago. Despite this, the Maharashtra government extended the toll tax recovery period for three more years until 2027, anticipating revenue of approximately Rs 11,000 crore. The toll waiver will certainly benefit around 2.8 lakh light motor vehicles daily.

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