What’s should be your strategy for primary market in FY25?

The world has a special place for war orphans. Every year, it celebrates January 6 as the War Orphans Day to sensitise societies about the emotional and social challenges these kids — results of human malevolence — face while growing up. It is time governments in India — both at the central and state levels — wake up to the needs that Covid orphans would face in future.

Besides the havoc it is wrecking on society and economy in general, the pestilence is scripting a heart wrenching chapter of Covid orphans — children and infants, even newborns, who have lost both parents to the infection. Some are fortunate to have relatives picking them up; others are not that lucky and can be consigned to most pathetic conditions.

At this tragic hour, constructive efforts are needed from the government for creating a verified list of Covid orphans. Next, it should draw up a plan to secure their future that stands jeopardised for no fault of theirs. In this fight the government can enlist the support of NGOs and charitable institutions that are coming forward to collate data on such orphans.

It is also perhaps time for parents to ponder about and plan a secure financial future for kids. While a fund, however big, is no substitute for parental affection and care, it can still take care of some vital needs of the growing up process. Parents must do estate planning. They should also make nominations for all their investments.

Experts often advise purchase of a term insurance plan at least ten times the annual salary, covering home loan and other liabilities. Parents should also try to be free from debt as far as possible. And lastly, they should buy a house for self-occupation. All these steps would go a long way in making a child financially secure.