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Can I get a scholarship to become a pilot in India, even though I can't afford the course?

Prof Suvasish

Prof Suvasish Mukhopadhyay  |621 Answers  |Ask -

Career Counsellor - Answered on Mar 18, 2025

Professor Suvasish Mukhopadhyay, fondly known as ‘happiness guru’, is a mentor and author with 33 years of teaching experience.
He has guided and motivated graduate and postgraduate students in science and technology to choose the right course and excel in their careers.
Professor Suvasish has authored 47 books and counselled thousands of students and individuals about tackling challenges in their careers and relationships in his three-decade-long professional journey.... more
minha Question by minha on Mar 15, 2025Hindi
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Career

My daughter is going to complete+2 in this March 2025.She want become a pilot.ahw is very good at studies.I am not in the position of meeting in the expense of pilot course.is there any chances to get scholarship.or any government institutions providing this course.what will be the net fee amount of this pls help me .

Ans: For aspiring pilots in India seeking government-run institutions with scholarship opportunities, consider Indira Gandhi Rashtriya Uran Akademi (IGRUA), Rajiv Gandhi National Aviation University (RGNAU), and the Telangana State Aviation Academy (TSAA).
Here's a more detailed look:
Indira Gandhi Rashtriya Uran Akademi (IGRUA):
Located in Fursatganj, Uttar Pradesh, IGRUA is a well-regarded government-run pilot training institute known for producing skilled pilots. It offers various courses, including Commercial Pilot License (CPL) and Airline Transport Pilot License (ATPL), and has a strong reputation for training excellence.
Rajiv Gandhi National Aviation University (RGNAU):
This government aviation training institute in Uttar Pradesh is known for producing excellent aviation professionals.
Telangana State Aviation Academy (TSAA):
Established in 1932, TSAA is a pioneer in training pilots and aircraft maintenance engineers, and has been recognized as a top academy. TSAA also offers scholarships to deserving students through the Ministry of Social Welfare and Tribal Welfare.
Other Notable Institutions:
National Flying Training Institute (NFTI): A joint venture between CAE Inc. and the Airport Authority of India, NFTI is a popular pilot training facility.
Bombay Flying Club: One of the oldest flying schools in India, Bombay Flying Club is known for its training and facilities.
Orient Flights Aviation Academy (OFAA): A leading aviation academy in India, OFAA is known for its CPL program and is part of the Hindustan Group of Institutions.
Chimes Aviation Academy: This academy is a top aviation training institution in India, approved by the Directorate General of Civil Aviation.
IGIA (Indira Gandhi Institute of Aeronautics): IGIA is another well-regarded aviation institute.
Bihar Flying Institute: This institute offers certificate courses to students preparing for a flying career.
Best of luck to your daughter. Professor..................:)
Career

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Mutual Funds, Financial Planning Expert - Answered on May 07, 2025

Asked by Anonymous - May 07, 2025
Money
Sir, I wqnted your advise, regarding an investment. My building is going for re-development, there is a additional flat sale for about 1cr, which will be ready in about 3 years. Please can you advise is it worth to invest 1cr in additional flat, i have savings of about 1cr, or should i keep the 1cr as Fixed Deposit. I do not have knowledge about investment in mutual funds or SIP. Thanks to advise.
Ans: It's commendable that you're considering the best investment route for your Rs. 1 crore savings. Let's evaluate the options you've mentioned and explore a comprehensive approach to wealth creation.

Understanding Your Investment Options
1. Investing in the Additional Flat

Illiquidity Concerns: Real estate investments are typically illiquid. Selling a property can take time and may not fetch the expected price.

Maintenance and Other Costs: Owning an additional flat comes with recurring expenses like maintenance charges, property taxes, and potential renovation costs.

Market Volatility: Property prices can fluctuate based on various factors, including economic conditions and government policies.

Rental Income Uncertainty: If you're considering renting out the flat, rental yields in many Indian cities are relatively low compared to the property's value.

2. Keeping the Amount in Fixed Deposits (FDs)

Low Returns: FDs offer fixed returns, but these may not outpace inflation, leading to a decrease in real purchasing power over time.

Tax Implications: Interest earned from FDs is taxable as per your income slab, which can further reduce the net returns.

Lack of Flexibility: Premature withdrawal from FDs can attract penalties, limiting liquidity.

Exploring Mutual Funds as an Alternative
Given that you're new to mutual funds and SIPs, it's essential to understand their potential benefits:

Professional Management: Mutual funds are managed by experienced fund managers who make investment decisions based on thorough research.

Diversification: By investing in a mutual fund, your money is spread across various assets, reducing risk.

Liquidity: Most mutual funds offer high liquidity, allowing you to redeem your investment when needed.

Potential for Higher Returns: Historically, mutual funds, especially equity-oriented ones, have offered higher returns over the long term compared to traditional instruments like FDs.

Tax Efficiency: Mutual funds can be more tax-efficient, especially with the benefits available under certain sections of the Income Tax Act.

Recommended Approach
Considering your current situation and the pros and cons of each investment option:

Avoid Investing in the Additional Flat: Given the illiquidity, associated costs, and potential market volatility, investing in another property may not be the most efficient use of your funds.

Limit Exposure to FDs: While FDs offer safety, the returns may not be sufficient to meet long-term financial goals, especially after accounting for inflation and taxes.

Consider Mutual Funds for Wealth Creation:

Start with a Lump Sum Investment: Allocate a portion of your Rs. 1 crore savings into mutual funds, focusing on a mix of equity and debt funds based on your risk appetite.

Initiate SIPs: Set up Systematic Investment Plans to invest a fixed amount regularly, benefiting from rupee cost averaging and disciplined investing.

Consult a Certified Financial Planner: Given your unfamiliarity with mutual funds, seeking guidance from a certified professional can help tailor an investment strategy aligned with your financial goals.

Final Insights
Your initiative to seek advice before making a significant investment decision is commendable. By steering clear of additional real estate investments and limiting exposure to low-yield instruments like FDs, you can explore avenues like mutual funds that offer the potential for higher returns and greater flexibility. Engaging with a certified financial planner can further ensure that your investment strategy is well-aligned with your long-term financial objectives.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

https://www.youtube.com/@HolisticInvestment

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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