B. R. AMBEDKAR'S CURRENCY INSIGHTS: A ROADMAP FOR STRENGTHENING THE RUPEE

India’s current economic landscape is characterized by persistent inflation, external vulnerabilities, and currency instability. In this context, revisiting Dr. B.R. Ambedkar’s economic thought offers valuable insights. Ambedkar’s contributions to monetary economics, particularly his ideas on currency and monetary policy, were both visionary and pragmatic, addressing the structural issues of an underdeveloped economy under colonial rule. His nuanced understanding of currency and exchange stability remains highly relevant today, especially in addressing the challenges of inflation and economic imbalance. Ambedkar’s broader economic philosophy was rooted in the ideals of social justice, inclusivity, and sustainable development. He strongly advocated for democratic state socialism, emphasizing state ownership of key industries, cooperative farming, the regulation of productive resources, and workers’ welfare. His economic ideology leaned toward pro-poor and pro-state development rather than aligning with capitalist interests. In light of the current economic challenges facing India, Ambedkar’s vision presents a compelling case for a more state-regulated, inclusive economic framework. This paper aims to explore the relevance of Ambedkar’s monetary thought and its potential to address contemporary currency-related issues in India.