Citation:

Swaraj Dash. "Revisiting Dr. B. R. Ambedkar's Theory of Economic Justice for Viksit Bharat 2047" International Research Journal of Economics and Management Studies, Vol. 4, No. 9, pp. 105-114, 2025. Crossref. http://doi.org/10.56472/25835238/IRJEMS-V4I9P112

Abstract:

Arguably, the Indian economist most deserving of renewed attention in the context of Viksit Bharat 2047 is Bharat Ratna Dr. Bhimrao Ramji Ambedkar (1891–1956), whom Economics Nobel Laureate Dr. Amartya Sen described as his “Father in Economics”. Dr. B. R. Ambedkar, a pioneering economist with a Ph.D. in Economics from Columbia University and a D.Sc. from the London School of Economics, envisioned an India that is inclusive, equitable, and developed. His economic philosophy aligns closely with the vision and mission of Viksit Bharat 2047, an ambitious national transformation agenda formally launched on 11 December 2023 by Prime Minister Narendra Modi developed by the NITI Aayog, to make India a fully developed, inclusive, and globally competitive nation by the 100th year of its independence in 2047. This paper revisits Dr. Ambedkar’s economic justice framework to evaluate its relevance to and potential integration within the Viksit Bharat 2047, a happiness-induced development model centred on the four pillars of Yuva (Youth), Garib (Poor), Mahila (Women), and Kishan (Farmers). Rooted in distributive justice, economic democracy, and structural transformation, Ambedkar’s economic theory of development envisions a just, inclusive, developed India. Using a qualitative, interpretive methodology, this study explores the integration of Ambedkar’s theory of economic justice into the developmental strategies envisioned in Viksit Bharat 2047 by addressing the central research question: How can Ambedkar’s economic justice framework be integrated into India’s Viksit Bharat 2047 policy to build an inclusive, just, and sustainable developmental model? The paper concludes that incorporating Ambedkarite principles into the policy framework of Viksit Bharat 2047 can bridge persistent structural inequalities and guide India toward a growth trajectory that is not only economically vibrant but also inclusive, equitable, and socially just, thus realizing the true spirit of transformative development.

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Keywords:

Dr. B. R. Ambedkar, Economic exploitation, Economic Justice, NITI Aayog, Viksit Bharat 2047.