Hindu mythology is a treasure trove of economic wisdom, where power, restraint and consequence are recurring themes. One such tale is that of the ancient demon Bhasmasura, who is granted a boon that makes him invincible, albeit with a condition. Whoever he touches on the head turns to ash. Drunk on power, he forgets the constraint, and the gift becomes his biggest threat.
IndiGo’s December disruption mirrors a similar arc. Not because the airline was hasty, but because it was highly productive. In the first half of December, India’s largest airline cancelled more than 4,500 flights, disrupting travel for an estimated 20,000 passengers. Passenger compensation alone exceeded approximately $55 million (over ₹500 crore).
For an airline with nearly 65% domestic market share and cash reserves of around ₹38,000 crore, this shouldn’t have happened. And yet, it did.
That makes this a financial story, not an aviation one. And perhaps the best way to understand the lessons is through a fabled lens.
1. Bhasmasura: When the boon turns inward
It’s tempting to attribute IndiGo’s disruption to a failure of execution. But it wasn’t. It comes from its greatest strength: hyper-efficient scheduling and asset utilisation. Their business model worked until new flight duty time rules became a hard constraint. With no slack, their business model crumbled.
The Lesson:
Indian household finances are beginning to show the same pattern. Household debt rose from 42% of GDP to about 42.6% in Q1 2025, while unsecured personal loans grew at 23.1% in February 2025.
Like Bhasmasura’s gift, our financial strength can turn against us if there’s no constraint.
2. Shani’s slow gaze: Known risks are the ones we underprice
Yes, Bhasmasura was blindsided by the gods, but IndiGo wasn’t. The regulatory change was announced months earlier. What failed was the assumption that ‘nothing will happen’.
The lesson:
Similarly, for us, healthcare is the clearest example. Medical inflation in India is running between 12 – 15% annually, more than double the country’s headline inflation of 6–7%. Yet over 40 crore Indians had no health insurance.
The risk is not invisible. It is too familiar, and familiarity leads to under-preparation.
Medical Inflation & Trend Rates in India
| Year | Medical Inflation / Trend | Context |
| 2021 | 14% | India had one of Asia’s highest medical inflation rates. |
| 2024 (annual average) | 14% | Healthcare cost growth outpaced general inflation. |
| 2025 (projected) | 13% | India’s healthcare costs are expected to rise above global average (10%). |
| 2026 (projected) | 11.5% | Employee medical plan costs in India are projected to rise. |
3. Yama’s accounting: The real cost is never the first number
Bhasmasura’s defeat was an act of illusion. What he thought was manageable was camouflaged by beauty. The same dynamics played out for the airlines. IndiGo’s ₹500 crore compensation headlines capture only the visible cost. If you account for actual refunds, inefficiencies, and deferred challenges, the number is much higher.
The lesson: In personal finance, our visible losses distract us from invisible ones, like tax liabilities, unplanned emergencies, and impulse splurges.
If you can calculate the loss easily, it’s probably not the full one.
4. Kubera’s vault: Cash covers shocks, not chaos
Bhasmasura’s mistake was assuming power alone could protect him. Just like IndiGo believed their cash reserves could cushion a disruption. Both failed. Liquidity absorbed refunds, penalties, and revenue loss. But it didn’t prevent chaos for passengers.
The lesson: Our emergency funds stabilise life’s disruptions for maybe 3 to 6 months, but they don’t guarantee smooth outcomes. What you need is a structure to cushion life’s blows, not just surplus cash.
Get professional help to rebalance your portfolio. Cut your losses and build a fund that covers more than just your daily expenses, for those just-in-case moments.
5. Karna’s armour: What you protect reveals what you fear losing
Bhasmasura knew only Lord Shiva, the giver of his gift, could take it away. Which is why he protected his power, in the hope of using it to destroy Lord Shiva. Indigo’s response reflects a similar hierarchy. They fiercely protected one facet of their business: international flights. The reason was simple. International compensation costs and regulatory consequences are significantly higher.
The lesson: Like Karna’s kavach, protection is prioritised where loss is unbearable. In finance, risk management often follows the same logic. We over-borrow to insure tangible assets, like our home, our car, maybe even an exotic pet. Still, 70% of Indians rely on informal methods of saving rather than structured planning.
Neglected risks don’t disappear; they compound quietly.
6. Indra’s fall: Reputation falls before numbers do
Maybe Bhasmasura wasn’t all bad. But authority coupled with arrogance and neglect is not the best combination. Indigo ‘managed’ the situation with its funds, but passenger frustration grew over cancellations. It was about silence, confusion, and delayed refunds.
Reputation damage doesn’t hit earnings immediately. It weakens loyalty, pricing power, and trust.
The lesson: Trust is a financial asset that doesn’t sit on the balance sheet. In 2025, India’s retail loan book touched ₹150 trillion, with 35% of borrowers missing a payment.
Trust between lenders or partners, once lost, is a long-term cost.
7. The Mahabharata lesson: The greatest losses come from known choices
This is not a story of truths. It’s a lesson in decisions and consequences. Bhasmasura understood the consequences of his power. Indigo understood its operational constraints. The rules were known. The operating model was visible.
The failure was not intelligence, but contingency planning.
The lesson: In the Mahabharata, the tragedy isn’t fate, it’s decisions made with full awareness of consequences. Most of our financial losses are not a sign of misfortune but of leaving no margin for error. We may not be able to predict shocks, but we can practice restraint.
Closing Reflection
Bhasmasura’s story is not about ambition gone wrong. It is a story about power without restraint.
IndiGo’s December disruption may be remembered as an aviation failure. But dig deeper, and you see a reminder that systems designed for perfect efficiency often lack tolerance for deviation.
As the year draws to a close, the more useful question isn’t how well your finances perform when everything goes right, but how much room we leave when something predictably goes wrong.
Disclaimer:
This article is for informational purposes only and does not constitute financial advice. Please consult a qualified professional before making investment decisions.
Sneha Virmani is a content strategist and writer with over a decade of experience. She is an alumna of Lady Shri Ram College, Delhi University (Economics & Psychology). Sneha specialises in storytelling-led content strategies and consumer education campaigns. Her work brings context and clarity, with a no-jargon approach designed to engage everyday readers.