ABSTRACT
Dr. Ambedkar believed that the state has to play a crucial role in restructuring society under democratic polity and the foundations of democracy would be feeble and shaky if there is no social and economic democracy consistent with political democracy. An attempt is made in this chapter to analyse Dr. Ambedkar’s views on caste and its economic implications, monetary and fiscal systems, exchange rate and trade, Indian agriculture, education, and his plan of economic development and examines their relevance for contemporary India. Given the stage and structure of the Indian Economy, Dr. Ambedkar’s vision of economic development – which emphasises on an active State role in bringing the desired change in socio-economic institutions to accelerate growth with justice – is relevant.
