D.R.B.R. AMBEDKAR is an economist of all time, but his economic thoughts have not been read, followed and propagated. He is a multifarious genius but surprisingly his economic thoughts remained unknown even to great personalities. The reasons can be
The Administration and finance of the East India Company provides a historical review of changes in administration and finance in East India company during 1792-1858 and depicts how those changes led to the sufferings of the Indian people at the hands of the British rulers. The key findings made in it were that to create PUBLIC DEBT OF INDIA (even though having a budget surplus for 36 out of 60 years). The article mainly addresses the fact that the Indian debt created in India is greatest than that of the home debt created in England, this is because of the increased military expenditure by the government by as much as 45 to 65 per cent of the total budget and also due to the prohibitive trade policies imposed on the Indian manufacturers to England. As a result, the British Indian government has increased the land taxes by 54 per cent whereas in England it is only 10%. So Ambedkar condemned the entire fiscal system of East India company and stated that the Finances of a country should be judged from developmental activities and among the developmental expenditure public works should be given a prominent position.