REVISED MARKS OF 4TH JPSC PT EXAM

Dear friends our Jharkhand is really unpredictable.No one even God may not know exactly what is going to be happen in mind of these experienced and skilled officers.the famous JPSC which is well known for its great and grand contribution in achieving high rank in corruption index has again done a splendid work. When even in this gloomy situation,judiciary is only hope for  justice ,JPSC clearly ignored the Ranchi high court and published revised result and new marks.Is it not the contempt of court and judicial process.In a defiance manner they are saying that mains will be held in the month of March and no cancellation of result or PT exam is possible now.In a press release JPSC has said these.It is now obvious that even in revised answer sheet there is so many mistakes and wrong answers.The matter of scaling and copying of question from previous UPSC exam is yet to be resolved in court and JPSC is giving jolt after jolt. marks like 77.5,55.06  in GS ,how can it is possible when all question are of one marks each,did they use scaling in GS too.All seems mockery of entire examination and evaluation process.Mr. Shiv Basant has earned very good name and fame as an IAS officer and as a chairmen of super corrupt electricity board of jharkhand.but his entire ability seems to have disappear in JPSC.Why he wants to hide mistakes of others ,he was not the chairman when the PT exam was held,He should have earned the faith of candidates in JPSC by taking corrective  measures and boldly accepting mistakes.No one in is favour of cancellation of exam but it is not the way of justice.what is the fault and sin of history students who scored 95+ and 75 in GS and not declared successful.What is the parameter of hardness and easiness of questions in any subject  on which JPSC has done negative and positive scaling.The difficulty level and discriminatory power of a question can only  be calculated by  a master of education and statistics,and there is no course of education in Jharkhand at that level,then who is that intelligent expert who gave such a foolish advise to ruin the hopes of candidates.determination of these parameter requires pretest and post test of questions.Did JPSC went through these steps before declaring question of history as easy and that of economics and other subject are hard.The biggest question is on judiciary.When the entire process is in court,how JPSC has been allowed to publish result again.Published result does not  quote court order and no., Honorable chief justice and his bench has cancelled appointment of primary teachers on the basis of change in process from that of advertisement,though there is no wrong answer and copying ,then why judiciary is giving date after date and chance after chance to JPSC to commit anther blunder .There is only one way to solve that complicated question of scaling,wrong answers ,wrong questions,copying without cancellation of exam.The result should be published on the basis of obtained marks in GS paper only .the question were same for all and no need of scaling.I think all candidate should be agree on this solution,those who are successful and also those who are feeling as deceived.To see your revised marks please enter roll no.

ADMIT CARD OF BIHAR SACHIVALAY SAHAYAK EXAM

Bihar ssc has issued admit card for sachivalay sahayak and many other posts PT exam which is to be held on 18th Dec 2011 at various exam centers.Almost all district headquarters have been made exam centers.Other than BPSC exam ,it is first time large job vacancy in last ten years in job less bihar.Especially in civil jobs.Other recruitment was done in mainly police and other paramilitary and auxiliary forces.Teacher is being recruited on contractual basis.Exam is to be held in one sitting starting from 11 am to 1.15 pm and one subject that is general studies.to download your admit card if not get please click following link  admit card

DEMOCRATIC ATTITUDE AMONG STUDENTS OF UNIVERSITY EDUCATION

Abstract:

The present study was descriptive survey type of research aiming at analyzing the democratic attitude of university education students of Nilamber Pitamber University, Daltonganj. The sample of 90 students from three different colleges of Nilamber Pitamber University was taken into consideration with the help of Democratic Attitude Scale of Uma Varshney (1969).  It was a matter of investigation to find whether there is any real significant difference between the male and female, rural and urban, graduate and post graduate students and between the students of science stream and arts stream. The result showed that post graduate and urban students were more democratic in compare to the graduates and rural groups respectively. The outcome also suggested that there is no effect of gender and streams on democratic attitude of students.

Introduction:

Democracy is the best known form of governance and also the best way of human life. For an ideal democratic society, each and every citizen must have to develop democratic attitude, keeping positive view to the ideals of democracy. Faith in democratic principles is essential for the citizens of India as only this can lead a successful democracy in practice. Although the most accurate description is of Abraham Lincoln, i.e., “democracy is a government of the people, by the people and for the people” but it also involves many other spheres of life other than the political ones. Democracy aims to establish political, economic and social equality and gives every individual a constitutional right to express his own opinion to associate with any group, to indulge in any legitimate action. Democracy also creates a conducive environment as providing equal opportunities and through developing brotherhood between the members of society. Justice also describes equality as all are equal against constitution and social justice as democracy provides an equal opportunity for the members who are on lower hierarchal order in society. What type of attitude has been developed or is developing in the students? Are they considering democratic value as important as other values in life? Are they actively practicing the democratic norms? We should know the role of students in new generation regarding democracy.

Review of literature regarding the present study discloses the importance of democratic value in society and it’s relation wjth other factors. Dave and Srivastava (1951); studied democratic attitude and the casual factors for the development of democratic attitudes among students. One of the finding concluded that there is a significant difference in students’ attitudes of the two schools in the area of understanding and tolerance, creative participation and respect for higher values of life while least difference is found in the attitudes towards the value of respect for individuality.

S.P. Ahluwalia examined the various notions about democracy in a research report prepared at the NCERT in 1963 (Notions about democracy: an exploratory study). He says on page 53, “This study reveals that there is considerable unanimity among the respondents on certain facets of democracy. Nevertheless, there still are differences of opinion in the matter of practical application of the general principles of democracy.

Perkovich (2004); came on conclusion about democratic society of India as – “Democratically managing a society as big, popular, diverse and culturally dynamic as India is a world historical challenge. If India can democratically lift all of its citizens to a decent quality of life without trampling on basic liberties and harming its neighbors, the Indian people will have accomplished perhaps the greater success in human history.”

Objectives of the Study:

            Following were the objectives of the study:

       I.          To find out the effect of gender on the democratic attitudes of students.

     II.          To find out the effect of residence (rural/urban) on the democratic attitudes of students  

   III.          To find out the effect of streams on the democratic attitudes of students.

  IV.          To find out the effect of educational qualification on the attitudes of students.

Methodology:

The only tool used in this study is ‘Democratic Attitude Scale’ constructed and standardized by Uma Varshney (1969). The sample was incidental because the subjects are easily available, no question of researcher’s choice arose and selection depends on chance. The sample of 90 students were taken from three different colleges; 30 from each college.

Results and Discussion:

Results pertaining to the set objectives are reported and interpreted. The scores were analyzed to find out means and standard deviation of the data groups. For testing the significance of difference of means;‘t’ test was employed.

Democratic attitude of male and female students:

There is no effect of gender on democratic attitude of students of university, i.e. male and female students are not different regarding their democratic attitudes in Palamu.

The variable was chosen for the study because of the reason that the previous study done on the value and value patterns indicates positive results, i.e., significant differences most of time. The related studies can be summarized as follows:

           

Dorothy (1952); found that man holds significantly higher political values than women; Mukhija (1970); found that male teacher gives more importance to power than the female ones. Transler and Vectione (1959) stated that male students are higher on political values while female students are higher on social values, etc. are the part studies showing gender as an important variable and also showing significant differences regarding value and value patterns. Democracy is one of the values and political or social values are very much related with democratic values.

It can be concluded that the students have same entry behaviour, equal structure of framework and high educational qualification and hence they possess equal democratic attitude irrespective of their gender.

Democratic attitude of rural and urban students:

There is a significant effect of locality on democratic attitude of students of university, i.e. urban and rural students are different regarding their democratic attitudes in Palamu.

Study of Tripathi (1966) concluded that city students were more political. Study of Dadu P. (1992) reveals that personality traits and religious attitude significantly different among rural and urban citizens.

It can be concluded that there is a reason for the significant difference result between the rural and urban prospective teachers regarding their democratic attitude.

Democratic attitude of science and arts stream students:

There is no effect of streams on democratic attitude of students of university, i.e. science and arts students are not different regarding their democratic attitudes in Palamu.

With reference to this finding Upadhyay (1972); studied effect of students stream on political values of University students. He concluded in the line that stream makes a significant affect to political values of University students.

            Khare (1968); also undertook the same variables and studied students different streams – political, social and other values. He concluded with result that stream makes significant effect to student’s values.

With reference to previous findings the result obtained in present investigation shows some opposite result that stream doesn’t make significant effect to democratic attitude. The insignificant result further can be explained as the equal environment of colleges about democratic values. All colleges are situated in palamu region and all have almost the same procedure of entrance irrespective of the streams.

Democratic attitude of post graduate and graduate students:

There is a significant effect of locality on democratic attitude of students of university, i.e. urban and rural students are different regarding their democratic attitudes in Palamu.

In reference to the present study, Kundu (1982); studied on “value pattern of college students and its relation to psychological variables.” The sample includes undergraduate and graduate students and recognizable value pattern were observable among college students. . Moreover, since the students of graduate and post-graduate are very much, a part of the democratic society, they are well indulged in the democratic values and democratic nature of our society. Although the postgraduates can analyze the developments and modernization processes more easily in compare to the graduates.. Thus, the differences in democratic attitude between them are not so uncommon.

Implications:

India is the largest democracy in the world. The four ideals of democracy viz. freedom, equality, fraternity and justice are the four pillars of Indian Constitution. Each and every Indian should live with and according to the constitution as it is the spirit of the Country.

This study has tremendous educational implications. Students should not forget their duty while speaking about or raising the behaviour up to the adequate level in terms of their overall development. Just indulging the content is not enough. Their mental faculties need to be trained so that they become the suitable citizens in future as for the spirit of the country.

Moreover, an investigator can investigate on so many points excluded from the present study. As for example, what type of development needed in rural areas to inculcate democratic attitude, and what type of that needed for the urban ones.

Conclusion:

The sample of 90 students were taken from three different colleges; 30 from three colleges of Nilamber Pitamber University. The conclusions obtained from the result reported are the following:

       I.          The male and female students have no significance difference on democratic attitude.

     II.          The urban students have more democratic values than rural ones.

   III.          The science students and arts students have no significance difference on democratic attitude.

  IV.          The postgraduate students have more democratic values than graduate ones.

References:

Adarno, T.W. & et al. (1950). The Authoritarian Personality. New Delhi: Harper and Borthers.

Buch, M.B. A survey of research in education. Centre of Advanced Study in Education, Baroda, India.

Buch, M.B. (ed.) (1974). A survey of research in education. Centre of Advanced Study in Education, Faculty of Education and Psychology, M.S. University, Baroda, India.

Buch, M.B. (ed.) (1978-1983). Third survey of research in Education National Council of Educational Research and Training, New Delhi.

Dahi, R.A. (2001). Democracy. In: Neil J. Smelser and Paul B. Baltes (ed.). International Encyclopedia of the Social and Behavioural Sciences. Vol. 5, U.K.: Cambridge University Press, pp. 3405-3408.

Dahi, R.A. (1989). Democracy and its Critics. New Haven, CT : Yale University Press.

Dahi, R.A. (1998). On Democracy. New Haven CT : Yale University Press.

Dewey, J. (1941). Democracy and Education. New York : The MacMillan Company.

Good, C.V. (1959). Dictionary of Education. Second edition, New York : McGraw

Guttwann, A. and Thomson, D.F. (1946). Democracy and Disagreement. Cambridge M.A. elknap Press of Harvard University.

Hansen, M.H. (1991). The Atheniah Democracy in the age of Demonsthenes. Structute, Principle and Ideology. U.K. Oxford University Press.

Hariman, P.H. (1947). Dictionary of Psychology. The Wisdom Library – a Division of Philosophical Library, New York, p. 344.

Kundu, N. (1992). Value pattern of college students – its relation to psycho- social variables. Ph.D. Psychology, Calcutta University. In: M.B. Buch’s Third Survey of Research of Education, NCERT, P. 149.

Kerlinger, F.N. (1973). Foundations of Behavioural Research. New York Holt Rinehart and Winston, Inc. Second Edition.

Kulshreshtha, S.P. (1974). The Emerging Value Pattern of Teachers in a Socio-cultural Environment of the Schools in the Present Era. Ph.D. Education, Patna University.

Makhija, G.K. (1973). Interaction among Values – Interests and Intelligence and its Impact on Scholastic Achievement. Journal of Psychological Review 10(1).

Mishra, J.S. (1991). Democracy and Deliberation : New Directions for Democratic Problem. New Havens CT : Yale University Press.

Munck, G.L. (2001). Democratic Transitions. In : J. Smelser and Paul B. Baltes. International Encyclopedia of the Social and Behavioural Sciences. Vol. 5, pp. 3405-3408.

Sartogi, G. (1987). The Theory of Democracy. Resisted Chartham, N.J. : Chatham House Publishers.

Sheehan, J.J. (2001). Democracy, history of. In Neil J. Smelser and Paul B. Baltes. International Encyclopedia of the Social and Behavioural Sciences Vol. 5, pp. 3408-3413.

www.twq.com/04 winter/docs/04 winter-perkovich. pdf

www.ncte-in.org/pub/unesco/ch18.htm-21k

SUSHIL KUMAR TIWARI
LECTURER, FACULTY OF EDUCATION
JAMSHEDPUR CO-OPERATIVE COLLEGE, JAMSHEDPUR
EAST SINGBHUM; JHARKHAND
MO NO. -- 09835193084

REVISED RESULT OF 4TH JPSC PT...

JPSC ranchi has declared today revised result of 4th PT exam.total 3285 candidates have been declared successful this time.In gen category there is 1275 candidates this time .JPSC has follow a ratio of 1:15 in preparation of result and claimed to have follow rules of scaling..Candidates having same marks have also qualified .This result is based on revised answer key .The declaration of result in such a time when the entire process is in court raises many eyebrows.The main issue is unlawful copying of same to same question from UPSC and foolish scaling process used but JPSC is trying to divert the issue towards wrong answer key.Lets see what is court's approach on this matter.please also share your view with me.  to see revised result please click here   revised result

revised answer key of 4th JPSC

JPSC Ranchi has issued revised answer key for 4th PT of JPSC.The previous answer key released by JPSC has said to have many wrong answer in almost all subject,maximum in sociology and political science.however the new answer key is not free of dispute.jpsc has also said that they are going to declare new result by next week on the basis of new answer key.no. of successful candudates will be approx. 6000. to see new answer key please visit   new horizon

RESULT OF UPPSC UPPER SUBORDINATE EXAM 2011

UPPSC Allahabad has declared result of upper subordinate exam 2011,which was held on 26 Jun 2011.TOTAL 9116 CANDIDATES HAVE BEN DECLARED SUCCESSFUL.

to see result please click here     DOWNLOAD RESULT 

Admit card of Review / Asstt. Review Officer Etc. (Main) Exam. 2010

Dear friends UPPSC Allahabad has uploaded provisional admit card for the mains examination of Review/Assttt. review Officer exam 2010.to download provisional admit card please click the link.Be careful as the admit card will be available only up to 22 Oct 2011.

ADMIT CARD

UPPSC has also released marks of UPPSC lower subordinate pre exam 2008.to see your marks in lower subordinate PT exam please click here.

MARKS OF LOWER SUBORDINATE EXAM


the general cut off marks are as follows

Combined Lower Subordinate Services (Pre.) Exam. 2008
Marks of Last Selected Candidate (Category-Wise)
GROUP – ALL
CATEGORY
MARKS OF LAST
SELECTED CANDIDATE
GENERAL 192.13
SCHEDULE-CASTE 160.22
SCHEDULE-TRIBE 105.60
OTHER BACKWARD CLASS 192.13
HORIZONTAL CATEGORY
DEPENDENT OF FREEDOM FIGHTER 135.67
PHYSICALLY HANDICAPPED 128.66
EX-SERVICE MAN ( GENERAL & OTHER
BACKWARD CLASS )
121.01
EX-SERVICE MAN (SCHEDULE-CASTE &
SCHEDULE-TRIBE)
107.30
FEMALE 136.41

RESULT OF JHARKHAND STET/TET (PRIMARY TEACHER'S RECRUITMENT EXAM BY JAC)

JAC,Ranchi,Jharkhand has declared the result of state level TET examinations.how ever result is very poor and most of the candidates will be disappointed.only about 7% candidates has been declaered sucessful.Initially this exam was said just as a PT test but later it was declared as TET.More than 50% candidates are para teachers who are working in primary and middle schools of Jharkhand on contractual basis .having seen these poo result JAC has decided not to conduct any mains exam.So those candidates who has baeen declared pass,can celebrate to have a teacher job in Jharkhand.It is also test of JAC also because,for first time ,JAC has organized an exam to appoint teacher's.Failure of notorious JPSC in a jobless state force govt. to notify JAC as a recruiting agency.

to see your result please kindly follow the link result

Hyundai Eon,A tough fighter for Alto

Alto ,the most popular car of Maruti Suzuki who always allures lower segment car market of India is going to face most fierce competition for the first time .TATA NANO when launched seemed a potential danger for but could not  challenge superior quality of Alto car.

Korean auto major Hyundai Motor Co on Thursday launched its entry level compact car Eon that has been developed specifically for the Indian market, at an introductory price of between Rs 2.69 lakh and Rs 3.71 lakh (ex-showroom Delhi).

The company, which operates through wholly owned subsidiary Hyundai Motor India Ltd (HMIL), said the car has been designed and developed keeping Indian consumers in mind.

"Eon has been specifically built keeping in mind the varied Indian conditions and special requirements of the customers here. It will further expand our market share in the fast-growing small car segment in the Indian market," HMIL Managing Director and CEO H W Park said. 
all the 6 variants will be packed with an 814cc, three-cylinder petrol engine, mated to a five-speed manual gearbox. The base Hyundai EON D-Lite model scores on its 145/80 R12 tyres, wrapped around silver-finish steel wheels with hub caps, child locks and engine immobilizer but misses on air conditioner, electric adjustments of driver’s side wing mirror (with manual internal adjust) and is provided with a single horn. The two-tone, beige-brown interior with semi-cloth seat trim will give decent look to the D-Lite base model. Front and rear seats have fixed headrests. The single-piece folding rear seat will enhance the boot space for luggage. A cup-holder in the central console, internal boot, petrol tank release levers and digital trip- and odometers are other major attracting features in Hyundai EON D-Lite. The shift indicator light for the manual transmission is a practical feature in this model. Although this is the base model, a heater with a four-speed blower comes as standard.
Next coming on to Hyundai EON D-Lite Option model, the variant will not disappoint customers who cannot think of a car without an AC. The heater with blower is upgraded to an AC in this model. Otherwise the features are same as base variant. Hyundai has catered to Indian buyers with introducing an advance feature with every escalating model. The next in line is Hyundai EON Era with electric power steering, body-color bumpers, tinted windows, silver central console trim and a shade band on the windscreen.
Still lingering on some more specifications? Move up to the Hyundai EON Magna. This model is adorned with passenger-side ORVM, powered front windows, tilt-adjustable steering and central locking, molded door trims with full-size arm-rests and map pockets at the front. The steel tyre size goes upto 155/70 R13 but this time wheels have full wheel covers. Hyundai EON Magna Option shares everything with Magna model but one gets a CD audio system with two front speakers, USB and AUX-in, as well as a rear parcel shelf in it. Last but not the least the Hyundai EON Sportz is the king of the jungle. Right from driver side airbag, key less entry, front fog lamps and body-colored mirrors, it features door handles and metallic finish on the steering wheel. It proves its supremacy and offers value-for-money features in the car.

But perhaps the biggest advantage of this car is mileage.company claimed a mileage of about 22 KMPL.In a country like India so obsessed with mileage let us see the response to real road situation.

TGT job in JHARKHAND

JAC,ranchi has invited applications for the post of TGT in new upgraded high school.Initially these schools are middle and have recently been upgraded.Most of them are in remote area.At first JPSC has been given the responsibility to recommend candidates.But failure of JPSC to conduct exam within time limit force Jharkhand govt. to seek help of other agency i.e. JHARKHAND ACADEMIC COUNCIL.A govt. body responsible to conduct examination up to +2 level in jharkhand.now JAC has advertised in newspaper for the post of TGT.

to download form of jharkhand TGT (advertisment also)  you may follow the link

form and advt.

JHARKHAND HIGH COURT ASSISTANT EXAM ADMIT CARD

Jharkhand high court,Ranchi is going to conduct examination for the post of assistant at 16 Oct 2011.duration of exam is 2 hour and it will be held on many centers of ranchi capital city of jharkhand.
those candidates who have not get their admit card yet may download from the link
to download admit card plz click here

ADMIT CARD

most of us use Mozilla Firefox to browse internet,to speed up browsing speed tips
click here
I have done it and found very useful indeed.

RESULT OF UPPSC LOWER SUBORDINATE EXAM 2008

UPPSC Allahabad has declared the result of PT combined lower subordinate exam 2008 on 4th Oct 2011.
 for AUDITOR (CO-OPERATIVE SOCIETY & PANCHAYAT)  only  574 candidates has been declared successful while for
other posts total NO OF CANDIDATES IS
26606
The whole result shall be subject to the final decision in petitions for
Special Leave to Appeal ( civil) Nos. 14299 - 14301/2007, U.P. Public
Service Commission & ANR. Versus Paras Nath Pal & ORS. , Petition
for Special Leave to appeal ( civil ) NO. 23713/2009 , U.P. Public
Service Commission Versus Dhananjay Singh & ANR . to see the full result plz follow the link

result

fair way to earn online money

young generation of India and all over world spent a lot of time on net,using many social sites and searching way to make money.Those who are working in KPO,BPO and other outsourcing processes.there is some fraud sites who offer online work,like survey,e-mail reading,ad view etc.The story of speak Asia,sri Ram survey and other site is well known.If any site ask some security money or advance,be alert it is first sign of fraud.  Money has always been weakness of humankind and especially students get trapped in these trap.before joining any work of this kind think once,why some would give you lot of money for just doing a minimal work or spending time.There is some meaningful site undoubtedly.But all way need hard work and innovative way of thinking.one simple way is Google ad sense program.Google offers   ad program for sites,blogs.what you need is to open a adsense account on Google.once your account get approved ad will be visible on your site or blog.whenever a visitor click on ad ,your account will be credited with some amount.however Google never disclosed the amount on per click.you can check your account status by logging in.Money was sent through cheque in your bank account.But there is some restrictions too.If you click your ad by your self or Google detects any unlawful/invalid click activity,your account will be deactivated.Google records pattern of visitors and show ads as per contents of site or blog.creativity and novelty is first condition to participate in Google adsense program. 

ANSWER KEY OF 4th JPSC PT EXAM

JPSC has released answer key of 4th JPSC PT exam and show level of  experts working in jpsc.have some example in GS

 1. romila thapar is a dancer

2. Khilafat movement was against ignorance of muslims in act of 1919.
 
for more stories plz follow this link and enjoy www.searchnewhorizon.blogspot.com


here is answer key of GS released by JPSC


see how the candidate has been victim of deep knowledge of fools.

Is e-gold better than gold ETF

this article has been taken from times of India dates 28 Aug2011 and originally written by SHOBHANA CHADHA



42% was the one-year (August 2010-August 2011) return delivered by e-gold compared with 40% for gold ETFs. While the marginal difference in returns can be
attributed to the cost-effectiveness of e-gold, both these avenues provide ease of investing by allowing people to hold gold in the demat form. However, each
product has its pros and cons-while gold ETF is a more tax-efficient means of investing, e-gold offers the option of physical delivery. This is perhaps the reason
experts remain divided on which route makes for better investment, finds out ET. Based on their opinion and depending on your individual needs, find out whether
you should go for e-gold or gold ETF.
Anjani Sinha, Managing Director, National Spot Exchange
E-GOLD
The biggest advantage that investing in e-gold has over gold ETF is that it involves no management costs or other recurring expenses. So the product is a lot more
cost-effective for people who have a long investment horizon.
The only charges involved are a one-time transaction fee of 2-3 paisa per gram and a brokerage fee of 0.2-0.3%. Both these charges are also levied in case of gold
ETFs, but are much higher. E-gold can be converted into physical gold for quantities as small as 8 gm, while gold ETFs offer the option of physical delivery but only
for a denomination of over a kilogram. Accumulating such a huge amount of gold is not feasible for small investors.
Besides, the delivery centers of the National Spot Exchange are located in 15 cities, while ETFs have only one delivery center in Mumbai. E-gold can also be directly
converted into jewellery through select, reputed jewelers that conform with the purity and transparency guidelines. The investor only has to pay for the making
charges. The National Spot Exchange aims to bring all branded jewellers under its umbrella of empaneled jewellers within a year.
The liquidity in e-gold is also increasing phenomenally, with the current average daily turnover being Rs 200-250 crore compared with Rs 15-20 crore in case of gold
ETFs. Liquidity is of utmost importance for a retail investor as it makes buying and selling more efficient by reducing the impact cost (which is the bid-ask spread).
The impact cost for e-gold is only 10-15 paise, as opposed to Rs 4-5 in gold ETFs.
Naveen Mathur, Associate Director, Commodities, Angel Broking
E-GOLD
E-gold wins hands down against gold ETF. In India, the rural community and the middle-to low-income group have a tendency to flock to gold. For the typical Indian
investor, e-gold is more suitable as it provides the option of delivering the yellow metal and, hence, bridges the gap between using it for investment and the
traditional, auspicious reasons for buying it.
Unlike in gold ETFs, where prices are measured in terms of the net asset value, it is simple to understand e-gold because of the transparency in pricing. A small
investor, who wants to accumulate gold for his daughter's wedding or a festival, can easily do so through planned, monthly or weekly investment in e-gold. In this
manner, he can also guard his investment against price volatility. E-gold has also been providing better returns than gold ETFs.
The primary reason for the differential is that in the case of investing in gold ETFs, there is a range of charges, such as management and advisory fees, marketing
and distribution expenses, custodian charges and other operational expenses. The expense ratio of gold ETFs is around 1%. Apart from the charges, tracking error
also brings down the returns of gold ETF's a little bit.
Tracking error is a measure of how closely a portfolio follows the index against which it is bench marked. A gold investor always aims to achieve returns in line with
the ones provided by physical gold. While e-gold directly tracks the domestic, physical gold prices, gold ETF only mirrors them. Certain gold ETFs have the flexibility
to invest up to 10% of the total net assets in money market instruments and this can lead to tracking error. Some ETF companies also invest in gold futures and in a
basket of gold mining companies.
The earnings of a gold mining company may not reflect the price movement in gold, thereby reducing the impact of the price rise. As a result, the returns from ETFs
may not be similar to those from investing in physical gold. The market-timing is another crucial factor that an investor should consider. One can trade in gold ETFs
only till 3.30 p.m., while e-gold can be traded till 11.30 p.m., providing the investors greater flexibility and global cues while trading in gold domestically.
Mukesh Gupta, Director, Wealth care Securities
GOLD ETF
The idea behind both the options is the same-both e-gold and gold ETFs aim at relieving investors of the worry of storage and purity, making gold investment more
efficient and convenient. However, gold ETFs make for a more sensible investing option compared with e-gold because of the different tax treatment meted out to
the returns from the two.
While the short-term capital gains tax for both the products is charged according to the marginal rate (tax slabs), the tenure for the application of this rate differs. An
investor has to hold e-gold for over three years for it to be considered a long-term capital gain, while gold ETFs need to be held for only over a year. Also, the long term
capital gains tax for gold ETFs is levied at 10%, while the tax is 20% for e-gold. E-gold also invites wealth tax, whereas gold ETFs don't.
Besides, the investors have to go through the inconvenience of opening a separate demat account to be able to trade in e-gold, while one doesn't have to do so for
gold ETFs as the demat account for shares can be used for the ETFs as well. Hence, administration is not at all cumbersome. However, if an investor is primarily
interested in getting physical delivery of gold then, e-gold is the ideal mode of investing. However, investors also need to keep in mind that for physical delivery, they
will have to pay a charge and VAT at the rate of 1% each.
Charul Shah, Director, Greshma Wealth Advisors
GOLD ETF FOR NOW
At present, investing in gold though ETFs would be more prudent for small investors. While it's true that investing in e-gold is relatively cost-effective, it's also a new
product. It was launched only in March 2010 and, hence, should be given more time to evolve before retail investors venture into it.
Gold ETFs, on the other hand, have been around since 2007, are traded on reputed stock exchanges and are backed by good fund houses. The average daily
volumes are significantly higher in the e-gold segment, but this could also be due to the authorised participation and contribution of high net worth individuals as the
commodity markets have been seeing encouraging turnover growth for some time compared with that in the equity markets.
It is also true that being linked to physical, domestic gold prices, e-gold mitigates the currency risk better than gold ETFs. According to the norms of the Securities
and Exchange Board of India, the actual benchmark for gold ETFs is not the domestic price of physical gold but the London Bullion Market Association's (LBMA)
gold price.
This price is in terms of the US dollars and has to be expressed in domestic currency, thereby allowing exchange rate fluctuations to adversely impact the gold ETF
NAVs. However, not being linked to LBMA's guidelines also has its drawbacks. The purity of e-gold is not approved by LBMA and there is no standard benchmark in
domestic gold prices. E-gold will definitely overtake gold ETFs as an investment route over the next two-three years. Till then, stick to gold ETFs.

this article has been taken from times of India dates 28 Aug2011 and originally written by SHOBHANA CHADHA