top of page

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.)

The Power-packed Pawars

Updated: Oct 22, 2024

Pawars

November may see a repeat of April 2024—where two close relatives of the powerful Pawar family may battle it out against each other at the ballot box in Baramati. During the Lok Sabha elections earlier this year, Baramati became the most-watched contest as senior Pawar’s daughter Supriya Sule defeated her sister-in-law Sunetra Pawar by a resounding margin. When Sunetra got elected to the Rajya Sabha in June, she became the fifth member of the influential Pawar family to hold public office.


The Pawar clan is deeply entrenched in politics and public life with Pawar having personally groomed several members of the family, even merely by example. The family currently has three members in Parliament and two in the Maharashtra legislative assembly, spanning three generations.


His older brother’s son Ajit, who Pawar groomed for a role in politics, split from the parent party in 2023 throwing the two factions into a bitter legal battle over the party name and symbol. While Ajit retained the original party name and symbol, for now, Pawar’s party has had to reb-brand his party as the NCP-SP with a ‘man blowing the trumpet’ as its electoral symbol.


Ajit made his foray into public life with cooperatives in Baramati and Pune and has subsequently been elected to the Maharashtra Assembly seven times from Baramati. He rose to the position of Maharashtra’s deputy chief minister with key ministries such as finance and home. With a reputation of being a taskmaster, he’s known for his administrative and political acumen.


Pawar’s daughter Supriya Sule was elected to the Rajya Sabha in 2006 and has been representing her hometown Baramati in the Lok Sabha since 2009. In 2019, Rohit Pawar, who is the senior Pawar’s brother’s grandson, contested and won the elections to the legislative assembly from Karjat. The same year, Ajit’s older son Parth unsuccessfully contested the Lok Sabha elections.


The Lok Sabha elections in 2024 saw Ajit’s wife, Sunetra emerge as yet another member of the family to enter electoral politics although numerous members of the family have been involved in political work and social causes in Baramati and Pune. Pawar’s brothers’ families work closely with the Agriculture Development Trust and other NGOs and forums.


Ajit may face his own brother Shrinivas Pawar’s son, Yugendra from the Baramati in this election, making it a face-off between two generations.

Comments

bottom of page