Showing posts with label Gold Standard. Show all posts
Showing posts with label Gold Standard. Show all posts

Dr. B.R. Ambedkar’s Views on Problems and Solution of Indian Rupee: An Overview

Dr. Santosh Kumar

Abstract 

Given the role of money in an economy and prevalence of different monetary standard Dr. B.R. Ambedkar wrote a thesis titled ‘The Problems of Rupee: Its Origin and Solution’ for which he was awarded with D.Sc. (Economics) by London School of Economics in 1923. In his thesis he brought out clearly the problem that Indian rupee faced on account of different monetary standards in India and Britain. India was subjected to Silver standard while Britain followed at the same time Gold standard. He claims that British government attempted to introduce the Gold standard in India but they were never serious about it and rather they introduced Gold exchange standard fixing the value of rupee in terms of pound sterling where pound sterling was based on Gold standard system. However, the exchange ratio was manipulated through easy monetary policy by the British government to benefit Britain with greater amount of resource transfer from India to Britain and also ensuring that gold reserve does not rise in India. This process created long lasting adverse economic impact on India that has been continuing even today and it is visible through continuously depreciating exchange rate of India.

📄 [PDF]
Published: June 2025 [Vol. 08, No. 06]