Relevance of Gandhian Economy in the 21st Century: Principles and Practice

Author(s)	Dr. Elangbam Girani Singh, Dr. Kh. Ibemhal Devi
Country	India
Abstract	Gandhian economy is mainly based on decentralization, non-violence, self-sufficient village unit industries, swadeshi, the theory of trusteeship, social justice, full employment, harmonious labor-capital relations etc. These, in turn, would solve the problems pertaining to labor, capital, production, distribution and profit etc. Since 1991, we are following market-oriented free economic system but the old problems are yet to be solved and higher growth remains to be achieved and hence there is an urgent need to find out some other alternative solution to the present economic problems. Economists like Gunnar Myrdal are of the opinion that socio-economic problems of India and other developing countries can be solved to a great extent by following Gandhi’s guidelines and principles.
Keywords	Decentralization, full-employment, non-violence, self-sufficient, trusteeship.
Field	Arts
Published In	Volume 6, Issue 4, July-August 2025
Published On	2025-08-21
DOI	https://doi.org/10.63363/aijfr.2025.v06i04.1121
Short DOI	https://doi.org/g9zzbw

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