PUBLIC FINANCE AND SOCIAL WELFARE: THE UNTAPPED POTENTIAL OF AMBEDKAR'S FISCAL THOUGHT IN MODERN GOVERNANCE

This paper examines the unrealised potential of Dr. B.R. Ambedkar's fiscal and economic theories within the framework of contemporary social welfare governance and public finance. While Ambedkar's contributions to social justice and constitutional law are well known, less attention has been given to his significant involvement in state finance, fiscal policy, and economic injustice. This essay re-evaluates Ambedkar's lesser-known works on taxation, public spending, and wealth redistribution, arguing that his ideas are highly relevant to addressing India's current socioeconomic divide. Utilising a qualitative analytical approach, the study compares modern public finance frameworks with Ambedkar's scholarly writings, legislative speeches, and policy actions. Through this lens, the study highlights key principles of Ambedkar's fiscal philosophy, including progressive taxation, social accountability of state spending, and planned development aimed at uplifting the economic status of disadvantaged communities. The article suggests that these ideas can offer transformative perspectives for rethinking contemporary social programs and inclusive governance frameworks. The findings indicate that integrating Ambedkar's fiscal principles into current policy discussions could enhance public finance's role in promoting social justice and equity. The study urges decision-makers to reconsider Ambedkar's economic legacy as an essential tool for crafting inclusive and responsive fiscal policies rather than merely as historical insights. It opens up new avenues for interdisciplinary research in academia that links governance, social justice, and economics.