Rahul Jain

What a speech by Uday Kotak!!

Breaking down his "7 Point Advisory" to the Finance Minister of India

[1] Tighten the fiscal deficit

India's consolidated deficit is 7%+.
The US, the world's most leveraged country, runs around 6%.
India needs to bring it down.

[2] Don't over-financialise

Markets exist to fund businesses, not just trading volumes.
The US holds 70% of global market cap, and Nvidia alone is worth more than India's entire stock market.
That's the mountain India must climb, and Mr. Kotak believes it can within 20 years.

[3] Never waste a crisis

Canada just made all capital expenditure fully tax-deductible in year one, to pull global capital in.
India must take similar actions.

[4] Make what the world want

Why Thailand is the world's biggest flower exporter and not India?
Something to ponder.

[5] Solve the gold

FY26: current account deficit of $25 billion.
Gold imports: $72 billion.
Without gold, India would have run a surplus.

[6] Balance regulation and development

E.g.
Let more cars on the highway
Build better signals to prevent accidents.
But don't stop the traffic.

[7] Brahma, Vishnu, Mahesh

Brahma: Young businesses creating something new
Vishnu: Big businesses playing safe where they're comfortable
Mahesh: Creative destruction, clearing out what no longer works

India's giants need more Brahma, and less Vishnu.

Thoroughly impressed with his speech, a must watch for every Indian.
Link to the full video in the comments

18 hours ago | [YT] | 77

Rahul Jain

Do you know we pay more than 24 different types of taxes in India?

12 taxes collected by the central government:

[1] Income tax
[2] Surcharge
[3] Health and education cess
[4] Short-term capital gains tax
[5] Long-term capital gains tax
[6] Securities transaction tax
[7] Dividend tax
[8] Tax on gifts
[9] GST
[10] GST compensation cess
[11] Customs duty
[12] Union excise duty

8 taxes collected by state governments:

[1] VAT on petrol and diesel
[2] State excise on liquor
[3] Stamp duty
[4] Registration charges
[5] Road tax
[6] Professional tax
[7] Electricity duty
[8] Land revenue

4 taxes collected by the Local Bodies

[1] Property tax
[2] Water and sewage charges
[3] Toll
[4] Entertainment tax

And as a result, have a look at India's income tax collection trend:
FY21 → ~₹9.5 lakh crore
FY26 → ₹23.4 lakh crore

This is a 20% CAGR!!

Key question - While tax collection has been rising, is the quality of life rising with it?

Probably not because:

Among top 10 countries by GDP, India ranks:

[1] 130th on the Human Development Index
[2] Life expectancy of 72 years (WORST)
[3] Average schooling of 6.9 years (WORST)
[4] Air pollution at 44.2 (WORST)
[5] Safe water at 76.4 (WORST)
[6] Health spending of just $346 per person (WORST)
[7] Child mortality at 2.6 (WORST)

Now the problem is NOT that our taxes are high.
The problem is that only ~6% of Indians file income tax, and 63% of them declare zero liability.

But even if that 6% became 50%, would the quality of life improve?

Probably not. Here's why.

Of every ₹100 the government spends:
[1] Interest payments: ₹26
[2] Defence: ₹14.7
[3] Roads: ₹5.8
[4] Education: ₹2.6
[5] Health: ₹2
[6] Everything else (Subsidies, Pensions, Yojnas and Govt. Freebies): ₹32

More taxes would give the government more to spend.
The real question is whether it spends that money "effectively"?

What do you think? Let me know in the comments.

I have explained the above topic in one of my YouTube videos. It has already crossed 1Lakh+ views in less than 24 hours. Link in the comments.

1 day ago | [YT] | 97

Rahul Jain

Gurugram contributes 60% of Haryana's GDP.

FY26 budget allocations for Gurugram:
[1] ₹1,750 crore for water, sewage and drainage
[2] ₹390 crore for sanitation
[3] ₹390 crore for street lighting
[4] ₹110 crore for roads.

The money is being spent.
But is it?

Recently, the Commission for Air Quality Management (CAQM) inspected 125 road stretches in Gurugram.
97% of them had visible dust.

And that is the city that houses some of the best entrepreneurship and job creation in India.

Similar story in Bengaluru.
Similar in Mumbai.
Similar in every city.

We build world-class offices and apartments, and walk out of them onto broken roads, choked drains, uncollected garbage and unbreathable air.

So where does the money actually go?

In this episode, I sit down with Mr. Srikanth Viswanathan, CEO of Janaagraha, who explains:

[1] What will it actually take to fix Indian cities?
[2] How much control PM Modi really has over development in the states?
[3] Why empowering a city's mayor could change everything?

Watch the full conversation on my "Good 2 Great" channel.
Link in the comments.

Do you think the Indian cities can ever be fixed?

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2 days ago | [YT] | 53

Rahul Jain

You have ₹50,000 extra every month.

Four options:
[1] SIP in the stock market
[2] Gold, every month
[3] Loan, buy land, pay the EMI
[4] Prepay your home loan

I will break these down for you.

Option 1: SIP IN THE STOCK MARKET

Over 20 years, you invest ₹1.2 crore. Here is what 20 years of past data says it becomes:
[1] Midcap 150~ ₹9 crore
[2] S&P 500 in INR~ ₹7 crore
[3] Smallcap 250~ ₹6.5 crore
[4] Nifty 500~ ₹5.6 crore
[5] Largecap 100~ ₹5.30 crore

The growth will vary from 5cr to 9cr on the basis of a CAGR return of 13% to 17.5%
Equity grows well, but you see the price every second.
Staying invested through a 30% fall is the hard part.

Option 2: BUY GOLD, EVERY MONTH

In Gold with around 15% CAGR (data of past 20 year), it will grow to ₹6.73 crore
You buy and forget gold. But it can go ten years without beating an FD.

Option 3: TAKE LOAN, BUY LAND, PAY THE EMI

A ₹60 lakh plot could be worth ₹1.3 crore at 4% CAGR, or ₹16.4 crore at 18%.
Nobody can tell you which.
You never see the price of land, which is why people hold it for decades.
It is also illiquid, and the fraud risk in India is real.

Option 4: LOAN PREPAYMENT

Buys you sleep and mental peace but costs you the gap between an 8% loan and a 15% return.

Ranking in my view will be:
[1] Equity
[2] Real Estate
[3] Gold
[4] Prepayment.
But that is mine, because I understand equity the most.

Returns shouldn't decide the asset, but the temperament should.

I have explained the above topic in one of my YouTube videos. It has already crossed 1.5 Million+ views. Link in the comments.

3 days ago | [YT] | 124

Rahul Jain

India holds around 25% of the world's diabetes cases.

And DIABETES is not a sugar problem but a metabolic one. There is no organ it spares.

[1] One roti~ five teaspoons of sugar
[2] One bowl of dal~ 6 to 7 teaspoons
[3] One aloo paratha~ 5 tsps
[4] One slice of bread~ 3 tsps

Nobody is eating sweets
But, everybody is eating sugar, which ends up in the same place.

YOUR WAIST

So the obvious answer is to LOSE WEIGHT
Except:
[1] Genetics account for 40-60% of where your weight sits
[2] Diet, fitness, sleep, stress and environment split the rest
[3] The average patient arrives after 8 to 15 failed attempts

Fix only the diet and you have fixed 20% of the problem.

But notice what that list is really made of.
Appetite. Sleep. Mood. Immunity.
All of it is controlled from one place.

YOUR GUT

That has 100 TRILLION GUT BACTERIA, that makes
[1] 90% of your serotonin
[2] 50% of your dopamine
[3] 500x more melatonin than your brain
[4] Holding 75% of your immune cells

Feed them 30 to 40 grams of fibre a day and they work.
Starve them and they start eating your gut lining instead.

In this episode, three specialists explain what it actually takes to stay healthy:

Dr. Jasjeet S. Wasir, Director of Endocrinology & Diabetes, Medanta – The Medicity, Gurugram
Dr. Brijmohan Arora, Senior Consultant Diabetologist & Obesity Expert
Prashant Desai, Health Educator, Stanford School of Medicine

Watch the full episode on Good 2 Great by Rahul Jain.

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4 days ago | [YT] | 60

Rahul Jain

Parag Parikh Flexi Cap, India's largest mutual fund has an AUM of over ₹1,48,000 crore.

[1] Its SIP returns over the last one year: -2.34%.
[2] The benchmark did 5%.

So social media has decided Parag Parikh Flexi Cap is finished.
Stop your SIPs, the fund has become TOO BIG.

But is the SIZE a real problem?

If it was, how HDFC Flexi Cap (with AUM ~ ₹1,13,000 crore) is 4th best performing flexicap mutual fund?

So let me break down why Parag Parikh is NOT performing:

[1] Fund is invested only 84% in equity, while most peers run 94-98%
[2] Average PE of 16.82, the lowest in its category
[3] Mid + small cap allocation ~8%, against 46-65% for the last three years' top funds
[4] Lowest volatility in the category at 8.79, versus 15.98 for the best 10-year performer

See, Mid and small caps ran hard for three years.
This fund refused to chase them because it found them expensive.

That is the fund doing exactly what it says it does.

So the question is not whether the fund is good.
It is whether it suits you.

If a 20% fall would make you exit the market, this fund is possibly built for you.
If a 20% fall does not bother you, it probably is not, you have better options.

My thumb rules: review the portfolio quarterly, serious review at 3 years, exit at 5 if the fund still hasn't performed.

I have done a full breakdown with live portfolio analysis on my YouTube channel. The video is close to 4 Lakh views.
LINK:https://youtu.be/dVbhWoiJmls

5 days ago | [YT] | 11

Rahul Jain

India's inflation hit 4.82% in August, the highest in ten months.

But do the official number tells us the real story?

[1] Rice: up 15-20% in Q1
[2] Sugar: at a 17-month high
[3] Eating out: 8.38% inflation
[4] Personal care and everyday services: over 15%
[5] Housing: officially 2.2%, while most rental agreements raise rent 10% a year
[6] School fees: 81% of 18,000 parents surveyed said they rise 10% annually

On the ground, inflation does not feel like 4-5%. It feels closer to 8-10%.

Which is why sitting in cash is not safety. It is a slow loss.

In this video I break down where the money is actually going, and two themes I believe could compound over the next decade:

Genomics — gene sequencing cost $100 million in 2001. Today it is about $2. AI is what collapsed that curve.

Cybersecurity — in August 2026, 116 companies including OpenAI, Anthropic, Microsoft and AMD signed an open letter calling for collective action on cyber defence. The people building AI are warning about what it can break.

Watch the full details in my latest video - https://www.youtube.com/watch?v=xGFOv...

6 days ago | [YT] | 8

Rahul Jain

HDFC Bank has lost over ₹5 lakh crore in market value.

A peak valuation of around ₹15.72 lakh crore, has now fallen to approx ₹10.59 lakh crore which is an erosion of nearly 32%.

So, what is actually going wrong with HDFC Bank?

[1] Investors have lost trust, particularly after the MSRDC deposit controversy
[2] Loan growth has slowed sharply post-merger
[3] Deposit growth has dropped to 14% in FY26, from 21% in FY23.
[4] NIM has fallen from around 4% pre-merger to approx 3.3%, putting pressure on profitability.

On the positive side, cost efficiency and asset quality have improved, with the cost-to-income ratio at around 38% and net NPA at approximately 0.4%.

But PAT growth of around 10–11% is shocking as compared with some large private-sector peers.

Meanwhile, the Price-to-Book ratio has fallen to ~1.79x, well below its 10-year median of around 3.5x.

And now, the biggest variable: if the new CEO could restore the lost trust and merger's potential

I’ve broken down the fundamentals, valuations, FII selling and the CEO transition in detail. The video has crossed 1M+ Views
Link: http://youtube.com/watch?v=3JCnphhKJd...

1 week ago | [YT] | 98