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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.)

Why Pune matters to the balance of power

As the BJP gears up to dominate Pune’s civic elections, opposition parties, hitherto fractured at the state level, are finding common cause on the streets.

Pune: The municipal elections in Pune, Maharashtra’s cultural capital, are months away. Yet the city already feels like a political battlefield. Campaign machinery has been quietly whirring, alliances are being tested, and every civic dispute has taken on the air of a proxy war. For the Bharatiya Janata Party (BJP), the contest is existential: the party aims to secure at least 110 seats in the Pune Municipal Corporation, thereby cementing its grip on one of India’s most influential urban centres. For the opposition - divided between factions, egos and shifting loyalties - the stakes are equally high. Pune has become the testing ground for whether Maharashtra’s opposition can overcome fragmentation and mount a credible challenge to the BJP’s dominance.


Beneath the veneer of unity of the ruling Mahayuti - a coalition of the BJP, the Eknath Shinde-led Shiv Sena and the Ajit Pawar-led Nationalist Congress Party (NCP) – lies suspicion. Opposition leaders and political observers say that cracks are widening even if BJP stalwarts dismiss this as media mischief. In Pune, however, the lack of coordination is hard to ignore. The BJP’s meticulous preparations for the polls have set off alarm bells among its allies, whose cadres complain of being sidelined in the ward-restructuring process, overseen by the city’s administration. Pawar and Shinde loyalists, meanwhile, are scrambling for influence in the urban development department, fearful of ceding the city’s levers to their more muscular partner.


If the Mahayuti looks shaky, the rival Maharashtra Vikas Aghadi (MVA) - the opposition coalition of the Congress, Sharad Pawar’s NCP (SP) and Uddhav Thackeray’s Shiv Sena (UBT) - is finding uncharacteristic moments of unity. This moment of unusual cohesion came on August 6, when Kishor Shinde, a former corporator from Raj Thackeray’s Maharashtra Navnirman Sena (MNS), clashed with Pune’s Municipal Commissioner. A police case against Shinde for obstructing official work swiftly spiralled into a citywide controversy. The MNS, long a fringe force, found unexpected solidarity from Congress, Shiv Sena (UBT) and Sharad Pawar loyalists.


Protest marches ensued, drawing in leaders across the opposition spectrum. Most strikingly, the episode brought together Raj Thackeray and his estranged cousin Uddhav whose newfound proximity hinted at a tactical rapprochement. For many observers, it was the clearest signal yet that Pune’s civic skirmishes are knitting together disparate opposition strands.


Other flashpoints

Other flashpoints have fuelled this sense of convergence. In Kothrud, the police were accused of detaining and harassing two young women while refusing to register their complaint. The Vanchit Bahujan Aghadi, a party representing Dalits and backward communities, staged a sit-in. Rohit Pawar of the Sharad Pawar faction joined the protest, spending the night at the police station. His presence, alongside activists, underscored how civic grievances are being weaponised as platforms for opposition unity.


The BJP, too, has leaned on agitation politics. Recently, BJP MLA Yogesh Tilekar led a protest over the construction of a dargah (Sufi shrine) in Pune’s Mukund Nagar, despite lacking police permission. Muslim and Dalit groups staged counter-protests, citing the site’s historical significance. The standoff echoed earlier communal tensions in Yavat, a satellite town, where clashes prompted police to fire tear gas. Ajit Pawar, in damage control mode, visited Yavat and urged residents to uphold its progressive traditions. His intervention calmed tempers, but also signalled how combustible religious disputes have become in the state’s electoral climate.


The net effect of these episodes has been paradoxical. On the one hand, they reveal Pune’s civic sphere being hijacked by partisan rivalry, where every administrative decision - from ward boundaries to police complaints - is filtered through the lens of political one-upmanship. On the other, they highlight a rare if fragile pattern: opposition parties that squabble elsewhere are, at least in Pune, beginning to align against a common adversary.


Political bellwether

This is hardly coincidence. Pune, with its educated middle class, deep networks of cooperative institutions, and growing corporate clout, is a bellwether of urban politics in Maharashtra. Whoever controls the civic body not only gains access to lucrative contracts and patronage networks, but also shapes the narrative of competence in a state that remains India’s second-largest economy. For the BJP, a strong showing would signal that its formula of centralised planning, Hindutva mobilisation and administrative muscle continues to resonate. For the opposition, a symbolic victory in Pune could serve as proof that the BJP’s dominance is not invincible and that tactical unity, however uncomfortable, can pay electoral dividends.


Whether this unity will endure beyond street protests is uncertain. The MVA still suffers from trust deficits and the Congress lacks organisational muscle in many wards. The MNS, unpredictable as ever, could retreat from alliances as quickly as it embraces them. On the ruling side, Ajit Pawar and Eknath Shinde must balance their survival against a partner (BJP) adept at swallowing allies whole.


Pune’s civic elections have become more than a contest over roads and drains. They are a microcosm of Maharashtra’s political future: a state where protests over police apathy, religious shrines, or municipal turf wars quickly become dress rehearsals for larger battles.


As the campaign season heats up, the question that lingers is whether Pune is merely a stage for routine civic elections, or is it the crucible in which Maharashtra’s next political realignment will be forged?

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