Dr. Ambedkar’s Contribution to Public Finance and Monetary Economics in India
Keywords:
Public Finance, Monetary Economics, Currency, Fiscal Policy, Reserve Bank of India, Economic DevelopmentAbstract
Dr. B. R. Ambedkar was not only a social reformer, jurist, and architect of the Indian Constitution but also an eminent economist whose contributions covered areas such as public finance, monetary economics, currency management, taxation, and economic development. His academic training in economics enabled him to critically analyse the financial problems of colonial India and suggest institutional reforms. His famous work The Problem of the Rupee: Its Origin and Its Solution (1923) provided a detailed analysis of India’s monetary system and influenced the establishment of the Reserve Bank of India. This paper examines Ambedkar’s contributions to public finance and monetary economics, focusing on currency stability, fiscal management, taxation, decentralization of finance, and economic justice. The study also highlights the relevance of his economic ideas in contemporary India. The study is analytical and descriptive in nature and it is based entirely on secondary sources collected from reliable literatures.
References
[1] Keer, D. (1962). Dr. Ambedkar: Life and Mission. Mumbai: Popular Prakashan.
[2] Rodrigues, V. (Ed.). (2002). The Essential Writings of B. R. Ambedkar. New Delhi: Oxford University Press.
[3] Gokhale, B. K. (1994). Dr. B. R. Ambedkar: A Study in Social Democracy. New Delhi: Deep & Deep Publications.
[4] Ambedkar, B. R. (1923). The Problem of the Rupee: Its Origin and Its Solution. London: P. S. King & Son.
[5] Government of India. (2020). Economic Survey of India. New Delhi: Ministry of Finance.
[6] Jaffrelot, C. (2005). Dr. Ambedkar and Untouchability: Analysing and Fighting Caste. New Delhi: Permanent Black.
[7] Thorat, S., & Kumar, N. (Eds.). (2008). B. R. Ambedkar: Perspectives on Social Exclusion and Inclusive Policies. New Delhi: Oxford University Press.
[8] Ambedkar, B. R. (1947). States and Minorities: What Are Their Rights and How to Secure Them in the Constitution of Free India.
