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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.)

Maharashtra at 65: A State of Aspiration and Uneven Achievement

The challenge before India’s richest state is to match its economic might with equity, resilience and inclusive renewal.

Few Indian states inspire both awe and ambivalence quite like Maharashtra. Sixty-five years after its birth out of a fierce linguistic movement, it remains the country’s undisputed economic engine, contributing nearly 14 percent to the national GDP and housing India’s financial nerve centre of Mumbai. Yet, this milestone is also a moment to reflect on the lopsided trajectory of growth, enduring agrarian distress and the political fluidity that both empowers and destabilises the state.


Maharashtra’s creation in 1960, carved out of the multilingual Bombay State, was no mere administrative exercise but the culmination of the Samyukta Maharashtra Movement - a democratic struggle steeped in sacrifice where over 100 protestors lost their lives to assert their right to linguistic and cultural self-determination. Mumbai, the jewel of this struggle, became the capital - a symbol of Marathi pride as much as economic opportunity. The movement’s deeper legacy, however, lies in its assertion of identity and regional dignity, traits that continue to define the Marathi psyche.


The state’s economic profile is formidable. In 2024–25, Maharashtra’s Gross State Domestic Product is projected at Rs. 45.31 lakh crore, growing at 7.3 percent and outpacing the national average. Its cities are engines of innovation. Mumbai is home to the Reserve Bank of India, SEBI and the Bombay Stock Exchange; Pune has emerged as a global hub for IT, auto manufacturing and education. The SamruddhiMahamarg and Mumbai Trans Harbour Link exemplify its infrastructural ambition.


But beyond the bustle of Mumbai and the gleaming towers of Pune lies a state marked by geographic disparity. While western Maharashtra reaps the fruits of industrialisation, regions like Vidarbha and Marathwada lag woefully behind. Back in 1983, the Dandekar Committee had flagged the danger of widening regional imbalances. Four decades on, those warnings have become reality. Chronic underinvestment, poor road and irrigation connectivity, and water scarcity have left swathes of the state in perpetual precarity. The government’s response in form of rural connectivity programmes and marquee projects may generate headlines, but they are no panacea. What is needed is focused, decentralised planning, tailored industrial incentives, and above all, political will.


This unevenness is most stark in the agricultural sector. Over half the state’s population depends on farming, yet it is here that Maharashtra’s crisis is most acute. The spectre of farmer suicides continues to haunt the hinterland. In 2024, 2,635 farmers, mostly in Marathwada and Amravati, ended their lives. In early 2025, suicides in Marathwada rose 32 percent year-on-year. The causes are depressingly familiar: erratic monsoons, mounting debt, lack of irrigation and hostile markets. Successive governments have resorted to loan waivers, crop insurance and compensation but the real answers lie in water management reform, crop diversification, soil regeneration and a robust farm-to-market infrastructure. Until those are pursued with urgency, Maharashtra’s rural heart will continue to bleed.


Meanwhile, the state’s political terrain has undergone a dramatic realignment. Once dominated by towering figures such as Yashwantrao Chavan, Sharad Pawar and Balasaheb Thackeray, Maharashtra’s politics is now a fractured mosaic. The Shiv Sena and Nationalist Congress Party have splintered, party ideologies have blurred and opportunistic alliances have become the norm. The BJP, buoyed by its national machinery, has entrenched itself, upending older equations. While the state’s democratic ethos remains intact, the absence of a coherent political direction undermines long-term policy consistency.


Yet, Maharashtra continues to produce political talent of national consequence. Chavan helped shape both state and Union governance. Pawar’s political longevity is legendary. Devendra Fadnavis brought youthful technocracy to the Chief Minister’s Office. But the most compelling figure remains Balasaheb Thackeray, who, despite never holding office, exercised power through rhetoric, ideology and mass appeal. His brand of informal authority redefined the art of influence in Indian politics.


For Maharashtra’s youth who now constitute a decisive electoral bloc, the legacy of these leaders is both inspirational and instructive. Today’s 20-25-year-olds have come of age in a state that is economically vibrant but politically turbulent, digitally connected but environmentally vulnerable. For them, Maharashtra Day cannot merely be a holiday - it must be a call to action. Whether through entrepreneurship in Pune, sustainable farming in Vidarbha or civic engagement in Aurangabad, the onus is on them to shape the state’s next chapter.


Three imperatives stand out.

First, regional equity. Maharashtra must shed its metro-centric bias. Development must extend to its neglected districts through better public services, transport, and private investment.


Second, agrarian renewal. A shift from short-term relief to long-term structural reform is overdue. The state needs a second green revolution—this time tailored to smallholders, climate realities, and market volatility.


Third, political renewal. The state needs more than electoral strategy; it needs institutional strength, transparent governance, and youth-driven democratic participation.


At 65, Maharashtra is no longer young. But it is still restless. It has climbed skyscrapers and fallen into droughts. It has produced billionaires and buried farmers. It has enthralled Bollywood and confounded bureaucrats. In that messiness lies its authenticity.


The challenge now is to convert potential into promise for every district, not just the privileged few.


(The author is a political observer. Views personal.)

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