Contribution of Ambedkar in India’s Federal Finance System

Abstract

Ambedkar was a multifaceted personality who made deep impression on the social-political-economic life of India of his times. Ambedkar provided valuable guidance on the socio-political-economic platform in colonial India and independent India as well; yet economists have generally ignored his contributions to India. In this context, this article examines his significant role in federal finance, which is an important branch of economics and makes an effort to understand and evaluate the process of its development and his contribution to it. He had played a major role in a newborn country like India. He had been one of the contributors to the Constitution of India and had contributed towards the development of the federal finance system in independent India. His main insistence on the federal finance system was for economic welfare of the people with the establishment of such an economic system from the local to centre levels, which could progressively raise their economic level without jeopardizing their interests.