Sriperumbudur, December 6: "Let the financial managers of the present times in public sector organizations learn canons of public expenditure from Dr BR Ambedkar who deserve to be known to the World as an economist more than Dalit Messiah," said Professor Dr Madan Mohan Goel, Director Rajiv Gandhi National Institute of Youth Development (RGNIYD) here today.
The tributes were paid to Bharat Ratan Dr. B.R Ambedkar on his death anniversary with full sense of reverences to the great scholar of his times relevant today and tomorrow in Public Economics.
To ensure growth in the Indian economy , it would be relevant to adopt the canons of public expenditure advocated by Ambedkar in terms of the faithfulness to the intentions of the will of the people, wisdom as provided by the professionals in the field, coupled with well-considered and honest judgment, and economy in execution. The allocation of public expenditure among competing demands and the manner of utilization fall within the domain of Ambedkar's canons, which can be seen as a touch-stone to see whether a particular items of public spending is necessary or not, told Professor Goel.
He said that Governments should spend the resources not only according to rules, laws and regulations, but should also see that 'faithfulness, wisdom and Economy' are adhered to in the acts of expenditure by public authorities. The remarkable thing about Ambedkar's canons of public expenditure is that they are ism-neutral. One can follow a policy of a large or small public sector and yet the principles behind these canons are applicable, told Professor Goel.
There is a strong case for replacing postmortem approach by prognosis approach for all times to come in the Indian economy, believes Professor Goel.
Dr. Sharmistha Bhattacharjee, Public Relation Officer (PRO), RGNIYD stated in the press release.