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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.)

OBCs, political parties hail SC order on Local Polls

Mumbai: Political parties and OBC groups in the state heartily welcomed the Supreme Court order on conducting the long-pending local bodies’ elections on the existing OBC quotas within four months in Maharashtra.


OBC leaders like Prof. Laxman S. Hake, Chhagan Bhujbal, Congress state President Harshwardhan Sapkal, Nationalist Congress Party (SP) state chief Jayant Patil, Dr. Amol Kolhe, Shiv Sena (UBT) leaders and others reacted to the SC interim verdict.


“We are very happy as the existing (27%) quotas between 1994-2022 have been sustained. The Jayant K. Banthia Commission had made its recommendations even without a proper survey, and we wonder how it arrived at its conclusions. Now it has been set aside and the elections have been ordered,” Prof. Hake told The Perfect Voice.


“This is a huge success in our endeavour for OBC political reservations. Through ex-MP Sameer Bhujbal, the Akhil Bharatiya Mahatma Phule Samata Parishad had filed the petition in SC to save the cause. We are pleased by the apex court decision. It is crucial for the political existence of the OBC nomadic communities,” said an elated Bhujbal.


Sapkal has said that the state government should now hold these elections without any delay and without finding any loopholes to bring back the former glory of the posts of corporator, mayor, and speaker.


He said that the 73rd Constitutional Amendment implemented the Panchayat Raj system, leading to decentralization of power, plus resulting in division of power among the Corporators, mayor and others.


“This continued well, but the local bodies elections were not held for the past few years as the Bharatiya Janata Party leaders in the state and Centre wanted all the power in their own hands. After the SC’s verdict, the state government should forthwith announce the elections to give back power to the people,” urged Sapkal.


Patil said that the local bodies polls were not held for the past 3 years, but now the SC’s interim order will pave the way for the elections which are essential for all political parties and their workers.


“The polls will be held subject to the final order of SC regarding OBC quotas. It has also allowed the State Election Commission liberty to seek extension of time if needed. We hope that the state government will not push back the elections through the SEC,” averred Patil.


Hake added that the Centre’s announcement to conduct a Caste Census would not affect the OBCs quotas in elections.


SC: Ensure grassroots democracy

In a much-anticipated order, the SC division bench comprising Justice Surya Kant and Justice N. K. Singh directed the Maharashtra government to conduct the local bodies elections which are pending since 2022 following litigation pertaining to implementing the OBCs quotas. The SC’s interim order directed the polls to be held as per the OBC reservations which existed prior to the Banthia Commission report (July 2022), to notify the polls process within four weeks and complete it within four months, to ensure and respect democracy at the grassroots level as enshrine in the Constitution.


Justice Kant and Justice Singh granted liberty to the SEC to seek an extension of time if necessary, and said that polls will be subject to the outcome of the bunch of petitions challenging the Banthia Commission though the order would not prejudice the contentions of the political parties.

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