Dr. B. R. Ambedkar's Economic Philosophy: A Special Focus on the Indian Economy

Abstract

Bharat Ratna Dr. B. R. Ambedkar was a significant figure in Indian history. He made contributions in the domains of economics, sociology, law, education, journalism, editing, social revolution, and human rights, among other things. India's mixed economy reflects the effects of social, political, and economic shifts that occurred both before and after independence. He used his movements to highlight the problem of the rural poor being exploited both physically and financially. Indian economics now have a new sociopolitical viewpoint thanks to Dr. Ambedkar. "Changeover from economics to law and politics" was the decision made by Dr. Ambedkar. He was in favour of keeping the currency's gold standard steady. He claims that a depreciating currency boosts exports and drives up local prices. Furthermore, he promoted "Industrialization" as a useful and workable solution for the Indian economy and agriculture. The goal of the current study is to clarify Dr. B. R. Ambedkar's economic views in light of the Indian economy.