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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.)

Choosing Her Battle

Updated: Nov 25, 2024

Her Battle

As anticipated in a long, polarised presidential campaign, Trump’s win has reignited the fight for reproductive freedom in the United States. The current social media trend on the Pro-Choice v. Pro-Life debate exposed America’s deep-seated division over women’s rights. But alas, the whole discussion is centred on the right to terminate the pregnancy.


The June 2022 U.S. Supreme Court decision to end the constitutional right to abortion paved the way for the states to prohibit abortion completely. Biden’s government kept the issue hanging until the 2024 election to use it as a foil against conservative Republicans.


Currently, about 28 of the 50 US states have hostile regulations; of these, four states have outlawed abortion at 6 weeks; in India, this limit is set at 24 weeks. The 17 US states intend to confer personhood either on fetuses or embryos, which would prohibit the use of emergency contraceptive pills. Conservative lawmakers who have already curtailed reproductive rights in over half of the country are now pushing to restrict access to birth control and IVFs. 13 US states have imposed a complete abortion ban without exceptions for rape or incest, as the American conservatives fear that by playing the victim, women would take advantage of rape exceptions? The state offers no exception, even to a child who has just attained puberty. Feel the anguish of the innocent child who is devastated by man’s brutality and is left with no legal alternative but to carry the unwanted result of the traumatic assault or face criminal punishment for abortion. Furthermore, South Carolina and Louisiana Republicans have proposed the “death penalty” for women who have abortions; it is a fact that I had to check again to believe.


In the US, women in a state with an abortion ban or restrictive laws are compelled to travel to other states where the procedure is permitted. Sometimes, the one-way journey takes over 12 hours to reach the nearest clinic. Those who cannot afford long travels or work-offs are often forced to opt for unsafe and illegal medical procedures. The abortion ban pushes the dejected, desperate women to seek out dangerous methods, resulting in huge fatalities. Would you still call this “Pro-life”? The pregnant women diagnosed with cancer find themselves between the devil and the deep sea. They have to convince the court that it is a medical emergency and plead for their lives or travel far to undergo an abortion. This causes a delay in starting cancer treatment and tons of anxiety.


Some border cities in the US prohibit individuals from helping patients crossing borders to access abortion, and also from possessing and distributing abortion pills in the city. These abortion restrictions lead to patients being given less effective medication and a trauma that is hard to heal! Is it not a moral obligation of the state to ensure its citizens have access to medical care? Is it not fundamental to medical care to respect the patient’s needs and not judge the patient’s morality?


Analysis of state-level reproductive rights and population data reveals that abortion is completely banned in states with a coloured population of roughly 20 per cent or more. These are the states where, from 1970 till the 1990s, over one million women of colour were forcibly sterilised or coerced into using unsafe contraceptives for prolonged times! Some university hospitals removed poor women’s uteruses, without medical grounds. It was a systematic genocide of the coloured race, carried out not using guns or weapons of mass destruction, but using a tiny birth control pill. Is the current blanket ban on abortion meant to cover up the government’s past evils? Or, is it a new wicked plan to support the labour-intensive industries?


The mealy-mouthed response of President Trump on future abortion policies has spooked American women so much that they are stockpiling contraceptives before his term begins. Meanwhile, very disturbing social media trends have erupted, in which American women are expressing violent fantasies of poisoning and killing their partner to prevent unwanted pregnancy. And to which the misogynist men are retorting with hashtags such as, ‘Your Body, Our Choice’ and ‘Get Back In the Kitchen’. These social media trends have exposed the ingrained inequality between genders fostered by social norms and expectations. And also the failed body politics of the United States. How can American women ever hope to achieve reproductive justice if all they do is bickering and sputtering on social media about a single issue? Doesn’t the woman’s choice extend far beyond a pregnancy?


If a woman can’t have control of her body, she can’t control her life. Her mental, physical, and emotional health, her social behaviour, her education, her vocational skills, her career goals, her motherhood, her ability to create, love, nurture, and her influence on the world, everything is diminished. She lives a smaller life.


In this era of Judicial globalisation, the legal systems of various countries borrow ideas and doctrines from one another and refer to foreign judgments in their domestic court proceedings, and the Indian judicial system is no exception. Here, we cannot ignore the negative dimension of judicial globalisation, where such precedents relating to abortion law by conservative courts might attract undue weightage and influence other countries’ domestic decisions.


In India, abortion is legal with certain restrictions. It is not a constitutional right; the right to life and personal liberty is interpreted to include reproductive choice. However, recently, in two cases, the Indian courts denied abortion on the grounds of mental depression. After making progressive amendments to the MTP Act in 2021 and 2022, India took a step backwards in recognising women’s reproductive autonomy.


Changing societal attitudes is necessary to eliminate the stigma and moral judgement surrounding women’s reproductive decisions. It needs sensitive support and all-inclusive open advocacy, which can be ensured only with public awareness, education and acknowledging the need of Reproductive Justice. Reproductive Justice means empowering women to make decisions about their bodies, including access to contraception, abortion, and assisted reproduction facilities, freedom from sexual violence, freedom from coerced usage of birth control and the ability to choose to have and raise a child. It must not be reduced to the option of ending the pregnancy. And certainly, it should not be promoted by reckless, cheap social media trends but by choosing the battle carefully.


(The author is a foreign affairs expert. Views personal.)

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