Assessment of the Impact of Dr. Ambedkar's economic philosophy on India's last decade budget
Author(s): Jyoti Kumar
Abstract: Dr. B.R. Ambedkar was not only the architect of the Indian Constitution but also a pioneering economist whose intellectual contributions to the fields of finance, labor, agriculture, and industrialization have profoundly shaped the discourse on equitable development in India. His economic philosophy was grounded in the principles of social justice, equality of opportunity, and the eradication of caste-based economic discrimination. Ambedkar viewed economic inequality as one of the principal obstacles to true democracy and believed that political freedom must be accompanied by economic empowerment for it to be meaningful, particularly for the Scheduled Castes, Scheduled Tribes, and other historically disadvantaged communities. Ambedkar’s ideas were revolutionary for their time. He strongly advocated for land reforms, particularly the nationalization of agricultural land to break the monopoly of the landlord class. He emphasized the role of state-led industrialization, public sector employment, and protective labor legislation to ensure dignified livelihoods for the working class. He also stressed universal education, gender equity, and public spending on social welfare, all as means to dismantle structural inequalities embedded in Indian society. His vision of social and economic democracy continues to resonate in modern policy frameworks aimed at inclusive development.
This research paper critically examines India’s Union Budgets over the last decade (2014-2024) to evaluate the degree of convergence between Ambedkarite economic philosophy and the country’s fiscal and developmental priorities. It focuses on budgetary allocations and schemes related to employment generation, access to education, skill development, social security, public health, and the economic empowerment of marginalized communities, including Dalits, Adivasis, women, and minority groups. By assessing policy instruments such as Stand-Up India, PM Awas Yojana, MUDRA loans, Samagra Shiksha Abhiyan, and reservations in economic sectors, the paper seeks to determine the extent to which these efforts reflect Ambedkar’s vision of a welfare state. The study also explores structural gaps and persistent challenges, such as delays in land redistribution, disparities in access to formal credit, underemployment, inadequate social protection, and the growing influence of privatization, which often undermine the redistributive aims envisioned by Ambedkar. It scrutinizes whether current economic planning mechanisms uphold the core constitutional values of liberty, equality, and fraternity that Ambedkar so passionately embedded in the nation's founding document.
By engaging in a historical and policy-oriented analysis, this research contributes to the growing discourse on Ambedkar’s relevance in contemporary governance, particularly in the fields of budgetary justice and financial inclusion. It argues that Ambedkar’s economic thought remains not only relevant but essential in addressing the rising economic inequality, regional disparities, and the marginalization of vulnerable populations in present-day India. The findings of this study aim to inform policymakers, scholars, and development practitioners about the transformative potential of integrating Ambedkarite principles into the nation’s fiscal frameworks and economic governance.
DOI: 10.22271/27069109.2025.v7.i7a.460Pages: 21-24 | Views: 1045 | Downloads: 359Download Full Article: Click Here
How to cite this article:
Jyoti Kumar.
Assessment of the Impact of Dr. Ambedkar's economic philosophy on India's last decade budget. Int J Hist 2025;7(7):21-24. DOI:
10.22271/27069109.2025.v7.i7a.460
