Dr Bhimrao Ambedkar
Ambedkar was the first Indian to pursue Economics doctorate degree abroad. According to him the industrialization and agricultural industry growth could enhance the economy of the nation.He stressed on money investment in the agricultural industry as the primary industry of India.Accoding to Sharad Pawar, Ambedkars vision benefited the government in accomplishing the food security goal. He supported economic and social development of the society for nations progress. He also emphasised on education, public hygiene, community health, residential facilities as the basic amenities. His DSc thesis The problems of Ruppee, its origin and solution (1923) reveals the factors responsible for Rupee fall. He proved the importance of price stability than exchange stability. He analysed the silver and gold rate exchange and its effect on Indian economy. He found out the reasons for the failure of British Indian economys public treasury.He found the loss made by British rule on Indian development.
He is creditworthy to establish Finance Commission of India. He did not support the income tax policy for the lower income group community. He contributed in Land Revenue Tax and excise duty policies to stabilize Indian economy. He played an important role in the land reform and the state economic development. According to him, the caste system divided labours and it was one of the hurdles for the economic progress. He emphasised on free economy with stable rupee which India has adopted recently. He advocated the birth control rate to develop the Indian economy. This policy has been adopted by Indian government as national policy for family planning. He emphasised on equal rights to women for economic development. He laid the foundation of industrial relations after Indian independence.