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DU Admissions: Confused about which college to choose for Economics hons?

Nayagam P

Nayagam P P  |3882 Answers  |Ask -

Career Counsellor - Answered on Sep 02, 2024

Nayagam is a certified career counsellor and the founder of EduJob360.
He started his career as an HR professional and has over 10 years of experience in tutoring and mentoring students from Classes 8 to 12, helping them choose the right stream, course and college/university.
He also counsels students on how to prepare for entrance exams for getting admission into reputed universities /colleges for their graduate/postgraduate courses.
He has guided both fresh graduates and experienced professionals on how to write a resume, how to prepare for job interviews and how to negotiate their salary when joining a new job.
Nayagam has published an eBook, Professional Resume Writing Without Googling.
He has a postgraduate degree in human resources from Bhartiya Vidya Bhavan, Delhi, a postgraduate diploma in labour law from Madras University, a postgraduate diploma in school counselling from Symbiosis, Pune, and a certification in child psychology from Counsel India.
He has also completed his master’s degree in career counselling from ICCC-Mindler and Counsel, India.
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Arun Question by Arun on Aug 17, 2024Hindi
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Dear Sir/ Madam, My daughter has just passed 12th exam from DPS, RK Puram with 94% in commerce stream. CUET marks not good enough. Took admission in Economics honours in VIPS, IP University Delhi. Wants to study in DU. She is interested in economics honours but due to less marks in CUET open to compromise with commerce etc. She may get 1) LSR- economics + computer application 2) Vekateshwar- economics + English 3) Miranda- economics + English 4) Dyal Singh- economics honours or BCom honours. Kindly help me with your expert advice what to opt priority- wise. Also she is open for corporate as well as govt jobs in future. Kindly suggest. Regards, Arun

Ans: Arun Sir, Your question recalled my Delhi-life between 1987 and 2003.

I also completed my BA from Motilal Nehru College in 1991 in South Campus where RLA & Venkateshwara are there.

Coming to your question, prefer LSR, followed by Miranda & Venkateshwara. All the BEST for Your Bright Future.

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Ashwini

Ashwini Dasgupta  |85 Answers  |Ask -

Personality Development Expert, Career Coach - Answered on Jul 19, 2023

Asked by Anonymous - Jul 18, 2023Hindi
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Hi Mam, My daughter just completed XII Com from CBSE and scored 98.7%. She has also scored good in CUET. I am in dilemma either to go for BA(Hons) Economics from DU or B.Com (hons) from DU. She is ready to go for CAT or CA as well. Personally, I feel she should go for BA(Hons) Eco and then either UPSC or CAT for a good IIM. Pl advise.
Ans: Hi Sir,

Thank you for writing in.

Congratulations on the success of your daughter.

I would suggest please speak to your daughter and understand her interest. At the end, she is the one who is going put efforts, patience, interest and build her career. Hence, it's important you buy in her consensus.

Here, you are referring to two different career paths and both has relevant expertise as per the choices you make. Below I have given the brief for your reference.

If you choose BA (Hons) Economics -

If you are interested in a career in the civil services, particularly aiming for the UPSC (Union Public Service Commission) exam, a BA in Economics could be relevant. Economics is one of the optional subjects in the UPSC exam, and having a background in this subject could give you an advantage in that aspect of the exam. However, keep in mind that the UPSC exam is highly competitive, and success in the exam depends on many factors, including hard work, dedication, and a comprehensive understanding of various subjects and current affairs. Hence checking the interest of your daughter is of utmost important.

On the other hand, if you are considering pursuing an MBA from an Indian Institute of Management (IIM) by taking the CAT (Common Admission Test), the choice of your undergraduate degree is less crucial. IIMs consider the CAT score, past academic performance, work experience, and performance in the interview/GD (Group Discussion) round when evaluating candidates. While an economics background could be helpful in developing analytical and quantitative skills required for the CAT, many successful MBA candidates come from diverse academic backgrounds.

If you choose B.com (Hons) -

If you are interested in a career in the civil services and want to appear for the UPSC exam, a BCom (Hons) degree can provide a solid foundation for the General Studies paper in the UPSC examination. BCom (Hons) covers various subjects related to commerce, economics, finance, and accounting, which can be beneficial for certain topics in the UPSC syllabus.

Similarly, if you are considering pursuing an MBA from an IIM through the CAT exam, a BCom (Hons) degree can be a good choice. BCom (Hons) graduates often possess strong analytical and quantitative skills, which are valuable for success in the CAT exam. Additionally, the IIMs appreciate diversity in academic backgrounds, and BCom (Hons) would add to that diversity.

As mentioned, with any career decision, it's essential to assess your daughter's interests, strengths, and long-term goals. Both paths, UPSC and CAT, require Commitment, Dedication and Hard work. You should research further on both the career options, possibly talk to professionals in each field who have achieved in their respective fields. Take time to explore both options thoroughly and choose the path that aligns best with your daughter's aspirations and ambitions.

Hope this help's. All the best

To Your Success. Be You. Be Confident
Ashwini Dasgupta
Author of Confidence Decoded. Is it a Skill or Attitude?

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Prof Suvasish

Prof Suvasish Mukhopadhyay  |4 Answers  |Ask -

Career Counsellor - Answered on Nov 05, 2024

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my Son has done BTech in computer Science in 2023 from NIT Jalandhar and campus placed in Indian Fintech and earning 15CTC. He is gaining experience there for more than one year for now. What is advisable for future course go for Masters in USA or any other country or continue with job in India by switching companies. Due to job market crunch he is also preparing for upto Group B level Govt jobs as Plan B. What would be best advice for long term and settling after marriage.
Ans: Please have one directional goal. No dual policy. Let him go for MS from some good American University and after that he can get a good job in USA. No point in switching companies in India. A rolling stone gathers no moss. Forget about Govt. job in India. His talent won't be utilized and there will be routine transfers. So hit the bull's eye. Have a decent GRE and TOEFL score, have three good recommendation from his professors, one good SOP (statement of purpose) and after seeing the GRE score I will suggest the universities. Mostly in all the reputed universities of USA at least one student of mine is there sas a Professor and half of the year I stay in USA. No worries. I am there to counsel him. Only he must fix one aim. No ambiguity. Have unique aim, work hard with proper decision, rest the guidance will be given by me. Recommended more than hundred students to different reputed universities of US right from Princeton to Texas A&M, Clemson to Vermont. Never forget that I AM THERE BY THE SIDE OF YOUR SON LIKE AN INVISIBLE SHADOW TO PROTECT HIM AND GUIDE HIM.

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Ramalingam

Ramalingam Kalirajan  |6970 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Nov 05, 2024

Asked by Anonymous - Nov 05, 2024Hindi
Money
Hi I am 39 years old working professional with take home salary of Rs. 2.25 lacs/month. I have taken home loan in last month for Rs. 30 lacs with monthly EMI of Rs. 60k. My monthly House hold expenses are Rs. 50k. From 2022 I am investing Rs. 35k in MF via monthly SIP in ratio of 40:30:20:10 in Large:Mid:small:Debt. I have 2 Sons for 8 years and 3 years respectively. My Goal is to have sufficient corpus for their higher education and to achieve financial independence ASAP. Pl guide..
Ans: Your proactive approach towards securing financial independence and planning for your children’s education is commendable. At 39, you have a robust salary, structured expenses, and disciplined investments. Let's examine your financial standing, assess your goals, and outline strategies for optimal growth and security.

Current Financial Overview
Monthly Income: Rs 2.25 lakh

Home Loan EMI: Rs 60,000 (new loan of Rs 30 lakh)

Household Expenses: Rs 50,000

Monthly SIP in Mutual Funds: Rs 35,000 (split across large, mid, small-cap, and debt funds)

You have taken significant steps with a home purchase and ongoing SIPs. Let’s optimise these resources to achieve financial independence and build a corpus for your children’s education.

Goal-Based Financial Planning
1. Higher Education Corpus for Children
Education expenses rise significantly due to inflation, particularly for quality higher education.

With your sons aged 8 and 3, plan for their higher education in 10-15 years.

To achieve this, increase your SIPs in equity-focused funds. Equities provide inflation-beating returns over the long term.

Maintain a systematic approach, with SIPs focused on growth-oriented funds (large and mid-cap funds are ideal).

Regularly review this corpus every 2-3 years to ensure it aligns with educational costs.

2. Financial Independence
Early financial independence requires strategic savings and investment growth.

Aim to build a corpus that covers at least 25 times your annual expenses.

At present, Rs 50,000 monthly expenses indicate a future goal corpus of Rs 1.5-2 crore, adjusting for inflation.

Your current SIPs are a great start, but gradually increase SIPs to achieve a sizeable retirement fund.

Consider adding more equity exposure for growth and inflation protection, while adding debt as retirement nears.

Debt Management and EMI Strategy
Home loan EMI is Rs 60,000, a significant commitment for 20 years. This can limit cash flow for other investments.

Aim to prepay your loan when possible to reduce interest outflow and loan tenure.

You may consider setting aside a small portion of bonuses or salary hikes for periodic prepayments.

Reducing debt earlier will provide more cash flow to focus on investments.

Optimising Your SIP Strategy
Equity Allocation: Your SIP allocation is split 40:30:20:10 across large, mid, small, and debt categories.

Large-cap funds offer stability, while mid and small caps drive growth. The debt allocation provides balance but may be increased as you approach retirement.

Avoid Index Funds: Index funds, while popular, lack active management, which can be limiting. Actively managed funds adjust to market conditions, providing a higher potential for returns. Certified Financial Planners (CFP) can guide you on the best funds for your goals, particularly with growth in mind.

Consider Regular Funds Over Direct: Regular funds provide personalised guidance, performance reviews, and rebalancing through Certified Financial Planners, which direct funds lack. Regular investments managed by certified experts offer better long-term growth.

Building Contingency and Protection
1. Emergency Fund
Ensure an emergency fund covering 6-12 months of expenses (about Rs 4-6 lakh), kept in easily accessible accounts like liquid funds.

This fund will protect your long-term investments in case of unexpected expenses.

2. Insurance Needs
Adequate life and health insurance are essential, especially with dependents and ongoing liabilities.

Life insurance should cover at least 10 times your annual income, which could be achieved with a simple term insurance policy.

Health insurance for the family is essential to avoid dipping into savings during medical emergencies. Ensure coverage is comprehensive to handle inflation in healthcare.

Tax Efficiency in Investments
New tax rules affect mutual fund capital gains. For equity funds, long-term capital gains (LTCG) above Rs 1.25 lakh are taxed at 12.5%, while short-term capital gains (STCG) are taxed at 20%.

Debt mutual funds are taxed as per your income slab. Plan to withdraw strategically to minimise tax impact.

Periodic portfolio reviews and structured withdrawals can help reduce your tax liability.

Nurturing Long-Term Wealth Growth
PPF and Debt Instruments: PPF and debt mutual funds provide stability but may fall short on inflation-adjusted growth. Maintain debt instruments as a smaller part of your portfolio until retirement nears.

Equities for Wealth Accumulation: Equities remain ideal for long-term goals like retirement and education due to their inflation-beating growth.

Review your mutual fund choices periodically to ensure they are high-performing and aligned with your growth goals.

Final Insights
Achieving financial independence and funding your children’s education are achievable with disciplined investments, a focus on growth, and debt management. Regular monitoring, along with a Certified Financial Planner’s advice, will ensure you stay on track.

Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner

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

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Prof Suvasish

Prof Suvasish Mukhopadhyay  |4 Answers  |Ask -

Career Counsellor - Answered on Nov 05, 2024

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I am a 29 year old completed her Masters in Psychology 5 years ago. Presently i am working, on a contractual basis ,as a Patient Counsellor for Oncology department in a local well reputed hospital and my work contract is coming to an end. I always aspire to make a mark in the field of Psychology and contribute in a better way for Indian space, bring awareness and popularity in India. My mind also goes to UGC NET or school counseling, plus I am yet to do any M. Phil or PhD yet however I am little unsure regarding my capacity. But I do want to go ahead in my career. I need your guidance regarding taking the next step for a better career. Please help me out.
Ans: I am really very happy to see the positive mind frame of yours. I do think teaching ( i.e. College Teaching) will be the best job for you. At a time you and teach and counsel. Please don't be unsure about your capacity, from your writing it is crystal clear that you do have the required capacity to do M.Phil and Ph.D. Only your age is a bit high, because if you do M.Phil and Ph.D then it will take at least six years time and by that time you will be 35. If you are ready you can apply to some Universities of Germany for doing Ph.D directly. There M.Phil is not required. In Germany for ladies education is free. Only you need to have knowledge of primary German language for a smooth sailing. In school there is little bit use of Psychology, because the subject of Psychology is not there.
Your next step will be having a permanent job. Unless the basic needs are assured you can't concentrate. In India very few persons get job satisfaction. So if you appear for the state PSC exam, you may crack it, but Psychology won't be there, you may be a Deputy Collector or Sales Tax Officer with periodic transfer and lot of respect cum status. But don't be morose. Even being in other job you can give free counselling of Psychology online free of cost just to pursue your hobby. My basic answer is that first grab a full time job and then pursue your passion. Right now don't go for M.Phil and Ph.D.Higher degrees and age are proportional to each other. In last five years you must have completed M.Phil and started Ph.D. But no point in lamenting over the spilt milk. So two option 1) Do Ph.D from Germany 2) Grab a Govt or Private job which is not contractual. Take proper decision. That is the most important thing in career building. Never go for split mind and never try for true option. Make your aim fix and target it and I am sure you will achieve it.
Now just procure a permanent job and pursue your hobby of Psychology.Best of Luck. Prof. Mukhopadhyay

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T S Khurana

T S Khurana   |173 Answers  |Ask -

Tax Expert - Answered on Nov 05, 2024

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