ABSTRACT
In the context of shifting the economic policy of India from to economic liberalisation in 1991, this chapter analyses the views of Ambedkar on various aspects of the Indian economy such as caste and its economic implications, monetary and fiscal systems, exchange rate and trade, Indian agriculture and his plan of economic development and examines their relevance for contemporary India. Ambedkar believed that the state has a crucial role to play in restructuring Indian society and in accelerating the policy of growth with Justice under democratic polity. The foundations of democracy would be feeble and shaky if there is no social and economic democracy consistent with political democracy. He opined that caste is not merely a division of labour; it is also a division of labourers. It is hierarchical. Untouchability, which was the by-product of the caste system, was not only a form of social discrimination but also a source of economic exploitation.
