The Centre for advanced studies in policy research a non for profit organization working effectively in policy formulation held an online video lecture On Dr Ambedkar’s thoughts : On Economic growth, inequalities, policies and contemporary relevance by Dr Sukhadeo Thorat on the occasion of his 129 th Birth anniversary Dr Bhim Rao Ambedkar is considered as the mooknayak (leader of the downtrodden) and Nehru also hailed him as the champion of the depressed classes in India. Rajendra Prasad praised him as one of the architects of the Indian Constitution While Rajagopalchari called him as an upright person, a man with keen justice sense. Frank Anthony considered him to an an indomitable father, Y B Chauhan said that he was a undoubtedly the champion of the scheduled caste and the oppressed castes. Ambedkar was thus an anti caste, anti priest, anti Brahmin, anti injustice and anti exploitation figure. The lecture talked about the above topics.

Thought behind Economic Development :

He first and foremost talked about an economic growth of the society which meant a net increase in the per capita income of the individuals but as well as his conception of economic growth was Pro poor growth. That is according to Ambedkar it was simply not enough that the economic sections of the society rather it was of utmost importance that the poorer section saw increment in growth is purely driven by increase of per capita income of the creamery layer or the elites in their incomes as the main goals which is also one of the present goals of Sustainable development goals that is removal of global poverty.

Secondly he also talked in favor of the gold standard as opposed to what was suggested by the then renowned economist Keynes who suggested that India should embrace a gold exchange standard. He favored a gold standard as it was all a reaction to the raging economic problems of the day and not all of this analysis may be relevant today.

Thirdly he talked about on farming and farm holding in his 1918 essay which was published in the journal of the Indian Economic Society.

In here he discussed the problem of small land holdings, wherein he talked about the problem of land holdings but the biggest issue which many scholars had highlighted before him was it that due to small land holdings and fragmented land holdings led to the less generation of income. But according to Ambedkar the solution did not simply lie in increasing the land holding as the productivity of land did not simply depend on the size of the land but also on the other factors of production.

Fourth of all he talked about the Human Poverty Index wherein he stated that that there should be an approach of pro poverty growth for the poor and he stated that poverty alleviation and emancipation of the poor should be the main goal, that is why he classified and dichotomized two parts in the constitution one were the fundamental rights which talked about the negative liberties and the other were the directive principles of state policy which talked about the positive liberties.

Fifth of all he talked about industrialization as a key driving force for the economy as industrialization which also attracted a new labour force and will also help to open up and expand the service or the tertiary sector by using the inputs from the primary or the agricultural sector. In the primary sector Ambedkar talked about the need for cooperative farming that would lessen the burden on the farmers and even increase the productivity of the land.

Conclusion:

Thus in the video lecture by professor Sukadeo Thorat we saw how Ambedkar’s ideas still have so much of contemporary relevance especially his economic ideas of PRO POOR GROWTH and the need for the redistribution of wealth and the importance of the empowerment of the poor. Poverty as a concept to be eradicated and its relevance was not only felt by then but also by contemporary scholars, economists and international organisations such as the United Nations which has included Global Poverty as one of the 17 Sustainable Development Goals.

Thus his ideas of economic development are also in a symbiotic relationship with his other ideas of political or social concepts of justice and his ideas were reflected in the Indian constitution itself being the head of the drafting committee and a renowned law maker