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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its...

Akshay Tritiya and Gold

As Akshay Tritiya arrives, gold once again takes centre stage in Indian households. For generations, buying gold on this auspicious day has been considered a symbol of prosperity, purity, and good fortune. It is not just a purchase. It is an emotion, a blessing, and a tradition passed from one generation to another. But beyond tradition, gold also carries an important financial lesson. Gold is not just jewellery. It is an asset. Gold During Uncertain Times Over the years, gold has proved its worth not only during festivals, but also during uncertain times. Whenever the world faces wars, inflation, currency weakness, economic slowdown, or financial panic, investors across the globe look at gold as a safe haven. This is because gold has a unique quality. It is trusted across countries, cultures, and generations. It does not depend on the promise of one government, one company, or one currency. Why Gold Holds Value Unlike paper currency, gold cannot be printed endlessly. Unlike businesses, it does not depend on profits or management quality. Unlike real estate, it is globally accepted and easily valued. This is why gold continues to remain one of the oldest and most respected stores of value. It has survived centuries of change, economic cycles, wars, and financial crises. The Right Role in Your Portfolio That said, gold should not be treated as a shortcut to wealth creation. Equities and equity mutual funds still remain essential for long-term growth. Gold plays a different role. It brings balance, stability, and protection to your portfolio. When equity markets are volatile or global uncertainty rises, gold often provides comfort. A sensible allocation of around 10-20% to gold can help reduce overall portfolio risk.  So basically, while stocks and equity mutual funds play the lead role in your long-term financial goals, gold plays the supporting but essential role. Physical Gold Has Limitations However, the way you invest in gold matters. Buying physical gold during festivals may feel emotionally satisfying, but it comes with practical challenges. There are making charges, purity concerns, storage issues, risk of theft, and liquidity problems. A necklace may be beautiful, but you cannot easily sell only a small portion of it when you need money. Also, when gold is bought as jewellery, the investor often forgets to calculate the actual return after making charges and deductions. Smarter Ways to Invest This is where Gold Mutual Funds and Gold ETFs become useful. They allow you to invest in gold without worrying about lockers, purity, theft, or storage. You can invest flexible amounts, start SIPs, track value easily, and redeem conveniently when required. For investors who want gold as part of their financial plan, these options are far more practical than buying jewellery purely as an investment. Tradition with Financial Clarity Akshay Tritiya is a beautiful reminder that wealth should be built with faith, patience, and clarity. Buying gold is auspicious, but buying it in the right form is financially wise. This Akshay Tritiya, celebrate tradition - but also upgrade your financial thinking. Because true prosperity is not just about owning gold. It is about owning it smartly. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

BJP keeps MLA Dhas waiting

Updated: Mar 3, 2025

BJP

Mumbai: The BJP has kept its MLA Suresh Dhas waiting while appointing MLA Namita Mundata on the legislature committee to inspect charity hospitals.


Legislature committees have a major role to play in parliamentary democracy. However, during the MVA rule most of the committees were never constituted. On this backdrop, the Mahayuti government has taken lead in constituting the committees. While the BJP has named its MLAs and MLCs on the 11 committees that came to them, the Shiv Sena and the NCP who got 6 and 5 committees respectively are yet to announce the names. While political circles are abuzz with deliberations in hushed up voices over who has been favoured by the party leadership and who has fallen out of favour, it appears that these appointments are likely to be the next clash point within the Mahayuti.


In case of the BJP, a committee comprising of CM Devendra Fadnavis, state BJP president Chandrashekhar Bawankule, working president Ravindra Chavan, Randhir Savarkar and others has announced the appointments.


Looking at the names of MLAs who have been appointed on the committees, it is clear that the senior MLAs who couldn’t have been accommodated as junior ministers in the state government have been pacified with appointments on the committees. However, it is also being said that while the appointments have been made to pacify MLAs, they actually might lead to more unrest within the parties constituting Mahayuti.


The Maharashtra legislature has a total 35 committees. These committees act as the watchdogs of the democracy.


Of the appointments announced by the BJP, the appointment of Namita Mundada is particularly being debated. While Mundata is considered to be close to Pankaja Munde, it is being said that Dhas wasn’t considered for the appointment due to his vitriolic campaign against Dhananjay Munde in the Massajog sarpanch murder case. Mundada had even replaced Dhas in the district planning committees earlier. Hence, the appointment now is also likely to irk Dhas supporters.


During MVA rule and even during Mahayuti under Eknath Shinde only a select 4-5 committees were operational. Most of the other committees were not formed at all as most of the MLAs were facing disqualification pleas against them.

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