Hans News Service Hyderabad

FormerSupreme Court Judge Justice B Sudarshan Reddy stated that economic democracy must be achieved alongside political democracy while inaugurating a two-day national seminar on Economic Reforms and the Indian Constitution: Conflicts and Future Directions at Dr BR Ambedkar Open University on Thursday.

The seminar was jointly organised by the Department of Economics at BRAOU and the Government Degree College, Chanchalguda, as part of Social Empowerment Week. Justice Reddy recalled that BR Ambedkar was not only the architect of the Constitution but also a distinguished economist. He noted that socialism is embedded in the Constitution, particularly in the emphasis of the Preamble on equality and justice.

Referring to the Karachi Resolution, he said it laid the foundation for the recognition of socio-economic rights in India. He highlighted milestones such as the abolition of the Zamindari system and agrarian struggles while warning against the rise of new forms of fascism.

Vice-Chancellor Prof Ghanta Chakrapani presided over the event, stressing the need to safeguard public education. He expressed concern about the proliferation of private universities and the decline in UGC funding, warning that higher education is becoming inaccessible to ordinary citizens. He urged collective efforts to strengthen public universities and uphold constitutional values in education.

Keynote speaker Prof Prabhat Patnaik from Jawaharlal Nehru University argued that governments must retain control over key sectors to ensure public welfare. He recalled the 1948 Industrial Policy, which prioritised nationalisation and the public sector. Highlighting rising inequality, he noted that wealth is concentrated among the top one per cent and advocated measures such as wealth and inheritance taxes, alongside recognition of fundamental economic rights, to transform India into a welfare state.

Guest of Honour Prof Pushpa Chakrapani underlined the importance of social justice in shaping public policy, noting that economic justice gained renewed focus after the 1991 reforms. Seminar Director Prof P Venkateswarlu emphasised the relevance of the 1948 Industrial Policy in strengthening the public sector and insisted that reforms must remain grounded in constitutional principles. The speakers concluded that a balanced approach is necessary to ensure that market-driven policies do not undermine the egalitarian goals established by the founding fathers of the nation.