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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.)

Welfare of Ex-Servicemen

Suyash Padate
Nov 14, 2024
2 min read

Updated: Nov 15, 2024

Welfare of Ex-Servicemen

The various issues of Ex-servicemen have been overlooked not only by the centre but even different state governments. The contentious issue of One Rank One Pension (OROP) was subsided after the Supreme Court’s intervention. The delay in paperwork had left thousands of ex-servicemen in limbo. Their woes are not only restricted to the pension but they have to cross a lot of hurdles for getting the jobs. Technically qualified, the men have retired from the armed forces, and are eligible for jobs in State government offices. But though they have cleared the various examinations including public service commission exams, they have not been offered placements. The reason, different departments have not found the time to iron out the issue regarding their qualifications.


As the issue of ex-servicemen keeps on coming to the fore, the state government has taken a decision to give some relief to their children. Education Concession to the Children of Ex-Servicemen, Maharashtra 2023-24 is an initiative of the state government’s Directorate of Higher Education, to provide financial aid to children of ex-servicemen pursuing higher education. The selected students will receive a 100 percent waiver of fees incurred on admission, semester exams, and library including the laboratory fees. The Chief Minister Eknath Shinde has approved a significant increase in funding for ex-servicemen welfare schemes, doubling the financial allocation to Rs33 crore to support nearly 2.7 lakh retired military personnel and their families across the state.


While taking this decision certain conditions have been laid down by the government. One of the prime conditions is that the applicants must be domiciled in Maharashtra. Among other conditions, the definition of relationship is described, the applicant must be a child, wife, or widow of an ex-serviceman. Applicants should be enrolled in a government or government-aided college within Maharashtra. As per the government’s order, the financial Support by the state is being underscored. The scholarship provides a significant financial relief by waiving all associated fees. With this the doors are open for higher education to all deserving students who may otherwise face financial barriers. Being awarded this scholarship is a recognition of academic merit and the sacrifices made by ex-servicemen and their families gets the recognition.


Apart from this the Maharashtra government has also decided that it will provide financial assistance of Rs 15 lakh to self-help groups (SHGs) run by ex-servicemen. The state government official said that this decision was taken in the recent meeting of the Ex-Servicemen Welfare Board.


“Financial assistance for marriage of daughters of ex-servicemen has been increased from Rs 20,000 to Rs 1 lakh. Assistance up to Rs 2 lakh will be given to ex-servicemen, their widows for purchasing houses. Children of ex-servicemen or their widows Will be given Rs 1 lakh for education abroad,’’ the official further added.

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