Ambedkar Thoughts and Institutional Finance for Modernization of Agriculture Sector in Karnataka: A Special Reference to Chamarajanagar District

Abstract

This study examines the relevance of Dr. B. R. Ambedkar's economic thoughts and the role of institutional finance in the modernization of the agricultural sector in Chamarajanagar District. Ambedkar emphasized economic democracy, social justice, and equitable access to productive resources, which remain highly relevant in the context of contemporary agricultural development. The study is based on primary data collected from 50 farmers through a structured questionnaire and analyzes their perceptions regarding institutional finance, agricultural modernization, technological adoption, financial inclusion, and sustainable development. The findings reveal that a majority of respondents consider institutional finance essential for agricultural modernization, facilitating access to modern technologies, farm mechanization, irrigation facilities, and productivity enhancement. The study further indicates that timely credit availability and inclusive financing significantly contribute to the welfare of small and marginal farmers. Respondents also acknowledged the relevance of Ambedkar's vision in promoting equitable access to agricultural credit and achieving sustainable rural development. The study concludes that strengthening institutional financial support and expanding financial inclusion can accelerate agricultural modernization and contribute to achieving Ambedkar's vision of inclusive and sustainable economic development in Karnataka.