Economic Revolution in India: Contribution of Dr. Ambedkar

Abstract

Restructuring of the Indian economy had its roots in the thought and works of Baba Saheb Bhim Rao Ambedkar. He was regarded as one of the most brilliant brains India had ever produced. His contributions to the field of economics are remarkable. His ideas, particularly those concerning agriculture and public finance, have left an indelible influence on the field of economics. He was of the opinion that the plan for India's economic growth should be based on eradicating property, eliminating injustices, and putting a stop to the exploitation of the general populace. In general, Ambedkar contributed to the emancipation of women, the development of communities, agriculture and irrigation, free trade economy, labour and industrial reforms, insurance, investment, and finance, and he introduced reservation criteria in the country's economic, social, and educational development. He was the first person to conceive of the Reserve Bank of India and the first person to introduce a measure in parliament to empower women (a Hindu code bill).