Economics

 

Ambedkar was the first Indian to pursue a doctorate in economics abroad. He argued that industrialisation and agricultural growth could enhance the Indian economy. He stressed investment in agriculture as the primary industry of India. Ambedkar advocated national economic and social development, stressing education, public hygiene, community health, residential facilities as the basic amenities. His DSc thesis, The problem of the Rupee: Its Origin and Solution (1923) examines the causes for the Rupee's fall in value. In this dissertation, he argued in favour of a gold standard in modified form, and was opposed to the gold-exchange standard favoured by Keynes in his treatise Indian Currency and Finance (1909), claiming it was less stable. He favoured the stoppage of all further coinage of the rupee and the minting of a gold coin, which he believed would fix currency rates and prices.

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