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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.)

The Steady Hand

Updated: Jan 20, 2025

A quiet strategist with an iron will, Ravindra Chavan, the BJP’s newly-minted working president, is reshaping the state’s political map.

Ravindra Chavan

In the chaotic theater of Indian politics, patience is a rare and undervalued virtue. The impulsive are lauded for their boldness, the brash for their audacity. Yet, as in sports, those who bide their time often emerge as winners. In Maharashtra, this maxim finds embodiment in two figures: Chief Minister Devendra Fadnavis, celebrated for his steady rise to the top, and Ravindra Chavan, the BJP’s newly appointed working president, who is tipped to be the next president of the Maharashtra BJP.


The 54-year-old Kalyan-born Chavan’s story is one of quiet perseverance and unflagging resolve. His rise to prominence has been anything but meteoric.


His is not the tale of political royalty or academic brilliance. Lacking a college degree and early connections, Chavan built his career brick by brick, driven by an indefatigable spirit and an eye for strategy. Over 25 years of political toil, he has evolved into one of Maharashtra’s most effective leaders—a man whose name, until recently whispered in the party’s inner circles, now echoes in public discourse.


Chavan’s journey began in the rough-and-tumble streets of Dombivli, an RSS stronghold. In his early years, Chavan’s brash personality seemed at odds with the Sangh’s measured ethos. But as the RSS began to see the steel behind his demeanour, they embraced him as a valuable asset.


His foray into politics began modestly in 2000 when he contested local body elections as a corporator in the Kalyan-Dombivli Municipal Corporation. It was here that he honed his skills as an organizer and problem-solver, traits that would define his later career. By 2009, he had risen to contest—and win—the Dombivli Assembly seat, a constituency he has held with an unbroken grip ever since.


In a profession that often rewards theatrics, Chavan stands out for his preference for the grind. Between 2016 and 2019, as Minister of State under Fadnavis, Chavan took charge of portfolios ranging from Medical Education to Consumer Protection. The Mumbai-Goa highway project, delayed during his stint as Public Works Minister in the BJP-Shiv Sena-NCP coalition, drew criticism. Yet, Chavan remained steadfast, earning a reputation as a man who delivers more than he promises—a rarity in the political landscape.


His efforts to expand the BJP’s footprint in traditionally hostile territories like Ratnagiri and Sindhudurg have further cemented his credentials. Under his stewardship, the party’s membership drive in December 2024 saw an addition of 1.5 crore new members in Maharashtra alone, a staggering achievement that required meticulous planning and an astute understanding of grassroots dynamics.


The hallmark of Chavan’s leadership is his unhurried approach to conflict. Unlike many of his contemporaries, he does not lunge at every provocation. Instead, he chooses his battles carefully, as evidenced by his dealings with political rival Shrikant Shinde, the son of Deputy Chief Minister Eknath Shinde. Chavan’s calculated moves against the younger Shinde have elevated his stature within the BJP, earning him respect even from his adversaries.


His Maratha roots also add a layer of complexity and opportunity to his political journey. As the community’s demands for reservation grow louder, Chavan’s appointment signals the BJP’s intent to engage with Maratha concerns more directly.


Yet, he faces daunting challenges. Managing the delicate coalition dynamics of the BJP, the Shiv Sena led by Eknath Shinde, and Ajit Pawar’s NCP is no small feat. The Shinde father-son duo, with their own ambitions, represent a potential flashpoint. The ongoing agitation for Maratha reservation, spearheaded by Manoj Jarange-Patil, adds another layer of volatility.


The upcoming local body and civic elections will be Chavan’s litmus test. As the BJP’s working president, he must balance the expectations of party loyalists, coalition partners and Maharashtra’s diverse electorate.

What sets Chavan apart is his synthesis of intelligence, strategy and people skills. His leadership style eschews grandstanding for substance. Instead, he prefers the quiet rigor of organizational work.


As he steps into his new role, Chavan is a reminder that leadership is as much about preparation as it is about performance. In Ravindra Chavan, the Maharashtra BJP has found a steady hand to guide it through turbulent times. Regardless of what the future holds, Maharashtra’s political landscape is undeniably richer for his presence.


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

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