Ambedkar was an economist by training and until 1921 his career was as a professional economist. It was after that time that he became a political leader. He wrote three scholarly books on economics: Administration and Finance of the East India Company, The Evolution of Provincial Finance in British India, and The Problem of the Rupee: Its Origin and Its Solution[41][42][43] The Reserve Bank of India (RBI), formed in 1934, was based on the ideas that Ambedkar presented to the Hilton Young Commission.Ambedkar was the first Indian to pursue Economics doctorate degree abroad.[46] According to him the industrialization and agricultural industry growth could enhance the economy of the nation.[47] He stressed on money investment in the agricultural industry as the primary industry of India.[48] Accoding to Sharad Pawar, Union agriculture minister, Ambedkar’s vision benefited the government in accomplishing the food security goal.[49] He supported economic and social development of the society for nations progress. He also emphasised on education, public hygiene, community health, residential facilities as the basic amenities.[47] His DSc thesis The problems of Ruppee, its origin and solution (1923) reveals the factors responsible for Rupee fall.[48] He proved the importance of price stability than exchange stability. He analysed the silver and gold rate exchange and its effect on Indian economy. He found out the reasons for the failure of British Indian economy’s public treasury
Posted on: Mon, 14 Apr 2014 11:12:06 +0000
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