DR. AMBEDKAR & ECONOMIC STABILITY: RELEVANCE IN MODERN INDIA

ABSTRACT

Dr. Ambedkar, popularly known as Babasaheb, was an Indian jurist, economist, politician, social reformer and a deep scholar. He was among the most outstanding intellectuals of India in the 20th century. He did commendable works in enhancing the internal economic stability of India. He gave remarkable views in public finance and agriculture. His single agenda in developing the economics was to providing an internal stability in the nation. He was of the opinion that only an automatic system based on gold standard with gold currency could achieve this advantageous end. He suggested that faithfulness, wisdom & economy should be the judging alternatives to spend the government resources rather than following only rules & regulations. He argued that in spite of increasing the size of the farms, government should try to promote intensive cultivation that would employ more capital and labour. He promoted cooperative agriculture.  This paper attempts to provide some insights on Ambedkar’s thoughts on public finance and agriculture and to examine the applicability of these thoughts in the context of modern India. This paper suggests that government is required to take measures on the basis of Dr. Ambedkar’s thought.

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