Q.Who led the 'Peoples' March' to the Parliament in 1975 ? (A) Jagjivan Ram (B) S.K. Patil (C) Charu Majumdar (D) Jayaprakash Narayan
Concept understanding — Indian Economic Thinkers
Indian Economic Thinkers — A First Look
You already know that economics is about how people make choices with limited resources — what to produce, how to distribute, who gets what. But economics is not a universal truth dropped from the sky. It is shaped by the society, the problems, and the history of the people who think about it.
Indian economic thinkers are those scholars who looked at India's own economic realities — its villages, its poverty, its colonial past, its agriculture, its industries — and asked: What kind of economics makes sense for this country?
They did not just copy Western theories. They adapted, challenged, and created new ideas.
The core intuition
Imagine you are a doctor. A textbook from another country tells you to treat every fever with paracetamol. But in your village, the fever comes from malnutrition, dirty water, and seasonal hunger. Would you still blindly follow the textbook? No — you would study your patients first, then decide.
That is what Indian economic thinkers did. They saw that India's problems were different from those of industrialised Europe or America. So they built their own frameworks.
Who are these thinkers?
There is no single "Indian school of economics." Instead, there is a rich tradition of individuals who wrote about India's economy from different angles. The most important ones you will encounter in your syllabus are:
| Thinker | Core Idea |
|---|---|
| Kautilya (4th century BCE) | The state must actively manage the economy — taxation, trade, public goods, even price controls. His Arthashastra is one of the world's earliest treatises on political economy. |
| Dadabhai Naoroji (19th century) | British rule was draining India's wealth to Britain — the "Drain Theory." He used data to show that India's poverty was not natural but created by colonial policy. |
| Mahadev Govind Ranade (19th century) | India needed state-led industrialisation, not just free trade. He argued for protective tariffs and government support for Indian industries. |
| Gopal Krishna Gokhale (early 20th century) | Focused on public finance and the need for Indian representation in budget decisions. He pushed for spending on education and health. |
| B. R. Ambedkar (early 20th century) | Analysed the economic roots of caste and untouchability. He argued that economic equality required breaking social hierarchies, not just redistributing income. |
| J. C. Kumarappa (mid-20th century) | Championed a "Gandhian economy" — decentralised, village-based, labour-intensive, and ecologically sustainable. He criticised industrial capitalism. |
| P. C. Mahalanobis (post-independence) | Designed India's Second Five-Year Plan. He built a mathematical model that prioritised heavy industry (steel, machines) to accelerate long-term growth. |
The precise statement
Indian economic thinkers are scholars who analysed India's economic conditions — especially its colonial exploitation, agrarian structure, poverty, and industrial backwardness — and proposed policies rooted in India's specific context rather than imported Western models. Their work spans ancient statecraft (Kautilya), anti-colonial critique (Naoroji), developmental planning (Mahalanobis), and alternative visions (Gandhian economics).
Why does this matter for your exam?
You are not expected to memorise every detail. But you should be able to:
- Name the major thinkers and their one key contribution.
- Explain how their ideas were shaped by India's problems (colonial rule, poverty, caste, village economy).
- Contrast their approach with mainstream Western economics (e.g., free trade vs. protection, industrialisation vs. village-based development).
A common exam question asks: "How did Dadabhai Naoroji's Drain Theory differ from classical British economists' view of India's poverty?" The answer is simple: British economists saw poverty as India's own fault (climate, culture); Naoroji showed it was caused by systematic wealth transfer to Britain.
One more thing — the thinkers are not a monolith
They disagreed with each other. Ranade wanted state-led industry; Kumarappa wanted village self-sufficiency. Ambedkar wanted to break caste through economic rights; Gandhi wanted to reform caste from within. That is the point — Indian economic thought is a debate, not a single answer.
When you study them, ask: What problem was this thinker trying to solve? That will make each one memorable.
Who Led the 'People's March' to Parliament in 1975?
The People's March to Parliament in 1975 was a major political demonstration organized during a period of intense opposition to Indira Gandhi's government. This march took place in the context of widespread protests against corruption, inflation, and authoritarian tendencies in governance.
Jayaprakash Narayan, a veteran freedom fighter and socialist leader who had returned to active politics in the early 1970s, spearheaded this movement. He mobilized various opposition groups and civil society organizations to challenge the ruling establishment. The march symbolized popular discontent and was part of a broader campaign that eventually led to the declaration of the Emergency in June 1975.
JP, as he was popularly known, became the face of the anti-government agitation, calling for "total revolution" and demanding the resignation of the Prime Minister. His leadership brought together diverse political forces—from socialists to right-wing parties—in a united front against what they perceived as democratic backsliding.
Jayaprakash Narayan led the People's March to Parliament in 1975 as part of the broader movement against Indira Gandhi's government, making (D) the correct answer.
Jayaprakash Narayan led the 'People's March' to Parliament in 1975, a mass demonstration that became a defining moment in the opposition movement against Indira Gandhi's government.
The mid-1970s were a period of intense political turbulence in India. By 1975, Indira Gandhi's government faced mounting criticism over corruption allegations, economic distress marked by inflation and unemployment, and what many perceived as authoritarian tendencies. The opposition, fragmented across ideological lines, found a unifying figure in Jayaprakash Narayan—affectionately known as JP—a veteran freedom fighter and socialist leader who had long since retired from electoral politics but retained immense moral authority.
JP had emerged as the face of what came to be called the "Total Revolution" movement, a broad-based campaign demanding fundamental political and social change. He called for the dissolution of several state assemblies where the Congress party was in power, arguing they had lost legitimacy. His movement drew students, workers, farmers, and opposition parties into a coalition that transcended traditional political boundaries.
The 'People's March' to Parliament in 1975 was one of the most dramatic expressions of this movement. Thousands of protesters, mobilized under JP's leadership, converged on the national capital to demand the resignation of Indira Gandhi following the Allahabad High Court's judgment that found her guilty of electoral malpractices. The march symbolized the growing popular discontent and the opposition's determination to challenge the government through mass mobilization rather than merely parliamentary means.
This march occurred in the charged atmosphere just before the declaration of the Emergency on 25 June 1975. The government viewed such mass demonstrations as threats to stability, while the opposition saw them as legitimate democratic protest.
The other figures listed played different roles in this period. Jagjivan Ram was a senior Congress minister who would later break away to form the Congress for Democracy, but only in 1977. S.K. Patil was a Congress veteran without a central role in the 1975 opposition movement. Charu Majumdar was the leader of the Naxalite movement, which operated entirely outside the framework of parliamentary politics and had no connection to JP's constitutional agitation.
Jayaprakash Narayan led the 'People's March' to Parliament in 1975, making (D) the correct answer. This mass demonstration was a pivotal moment in the opposition's challenge to Indira Gandhi's government and set the stage for the Emergency that followed.
- CBSE 2026Set 59/1/11 markMCQQ.Choose the name of the Prime Minister who abolished 'Privy Purse'. (A) Morarji Desai (B) Lal Bahadur Shastri (C) Rajiv Gandhi (D) Indira Gandhi
›Reveal solutionSolution
Indira Gandhi abolished the privy purse in 1971, ending the guaranteed annual payments to India's former princely rulers.
The privy purse was a constitutional guarantee introduced at independence to ease the integration of India's 565 princely states into the Union. When these rulers agreed to merge their territories with India in 1947–49, they surrendered sovereignty but retained certain privileges: tax-free annual payments from the central government, personal property rights, and symbolic titles. The privy purse was meant to compensate them for the loss of their kingdoms and ensure a smooth transition without resistance.
By the late 1960s, however, this arrangement had become politically contentious. The Congress party under Indira Gandhi was moving leftward, adopting socialist policies and championing the cause of economic equality. The privy purse—amounting to millions of rupees paid to a few hundred former rulers—was increasingly seen as an anachronism, a feudal relic incompatible with a democratic republic committed to social justice. Public opinion, especially among progressive and left-leaning groups, demanded its abolition.
Indira Gandhi first attempted to end the privy purse through a constitutional amendment in 1970. Parliament passed the bill, but the Supreme Court struck it down on technical grounds, ruling that the government had not followed proper procedure in obtaining presidential assent. Undeterred, Gandhi took a bolder step: she issued an executive order derecognizing the princes, and then called for fresh elections in 1971. Her campaign slogan, "Garibi Hatao" (Remove Poverty), resonated with voters, and she won a landslide victory.
With a strengthened mandate, her government moved swiftly. The Twenty-sixth Amendment to the Constitution was passed in December 1971, formally abolishing the privy purse and derecognizing all titles and privileges of the former rulers. This time the amendment was upheld, marking a decisive break with the princely past.
ImportantThe abolition of the privy purse was not merely a financial measure; it was a symbolic assertion of republican values and a rejection of hereditary privilege in independent India.
✓Final answerIn short, Indira Gandhi abolished the privy purse in 1971 through the Twenty-sixth Constitutional Amendment, ending the guaranteed payments and privileges of India's former princely rulers. The correct answer is (D) Indira Gandhi.
- CBSE 2026Set 59/2/11 markMCQQ.Which was the last state toured by Rajiv Gandhi for his election campaign in May 1991 ? (A) Tamil Nadu (B) Karnataka (C) Kerala (D) Andhra Pradesh
›Reveal solutionSolution
Rajiv Gandhi's last state for his election campaign in May 1991 was Tamil Nadu, where he was tragically assassinated.
The year 1991 marked a crucial period in Indian politics, with the country gearing up for the tenth Lok Sabha elections. The political landscape was complex, characterized by coalition governments, social justice issues, and economic reforms on the horizon. Rajiv Gandhi, leading the Indian National Congress, was actively campaigning across the nation, aiming to secure a strong mandate for his party.
His campaign trail in May 1991 was particularly intense, as the elections were scheduled in multiple phases. He traveled extensively, addressing rallies and meeting supporters, articulating his vision for India. The final leg of his campaign, leading up to the tragic events of May 21, 1991, saw him covering several southern states.
On May 21, 1991, Rajiv Gandhi had a packed schedule. He began his day campaigning in Andhra Pradesh, addressing rallies in various locations within the state. After completing his engagements there, he proceeded to Tamil Nadu, which was his next and final destination for the day's campaign.
NoteThe 1991 general elections were held in three phases: May 20, May 23, and June 15. The assassination occurred between the first and second phases, leading to the postponement of the remaining phases.
His last scheduled rally was in Sriperumbudur, a town in Tamil Nadu. He arrived there in the late evening, ready to address the gathering. It was at this rally, while he was proceeding to the stage, that he was assassinated by a suicide bomber. This devastating event brought an abrupt and tragic end to his campaign and his life.
ImportantThe assassination of Rajiv Gandhi profoundly impacted the 1991 elections and the subsequent political trajectory of India.
✓Final answerRajiv Gandhi's last state for his election campaign in May 1991 was Tamil Nadu.
- CBSE 2026Set 59/2/11 markMCQQ.Match List-I with List-II correctly and choose the correct answer from the codes given below : List-I(a) Congress for democracy(b) Garibi Hatao(c) Student movement led by Morarji Desai(d) Total Revolution List-II(i) Gujarat(ii) Jay Prakash Narayan(iii) Jagjeevan Ram(iv) Indira Gandhi Codes : (A) (a)-(i), (b)-(ii), (c)-(iv), (d)-(iii) (B) (a)-(iv), (b)-(iii), (c)-(i), (d)-(ii) (C) (a)-(iii), (b)-(iv), (c)-(i), (d)-(ii) (D) (a)-(ii), (b)-(i), (c)-(iii), (d)-(iv)
›Reveal solutionSolution
The correct matches pair Congress for Democracy with Jagjeevan Ram, Garibi Hatao with Indira Gandhi, the Gujarat student movement with Morarji Desai, and Total Revolution with Jay Prakash Narayan.
The political upheaval of the mid-1970s in India produced a constellation of movements, slogans, and breakaway factions that redefined the country's democratic landscape. Each item in this question represents a distinct thread in that turbulent tapestry, and understanding who stood behind each initiative reveals the fault lines of the era.
Garibi Hatao was Indira Gandhi's signature slogan during the 1971 general election. "Remove poverty" became the rallying cry that swept her Congress party to a landslide victory, positioning her as a champion of the poor and consolidating her control over the party after years of internal struggle with the old guard. The slogan was both a promise and a political weapon, allowing Gandhi to outflank her opponents on the left while marginalizing conservative elements within her own ranks.
The student movement in Gujarat erupted in late 1973 and early 1974, initially sparked by rising food prices and corruption in the state government. Students demanded the dissolution of the state assembly, and the agitation quickly gained mass support. Morarji Desai, a senior Congress leader who had been sidelined by Indira Gandhi and was himself a Gujarati, lent his considerable political weight to the movement. He undertook a fast unto death in support of the students' demands, forcing the central government to dissolve the Gujarat assembly. This movement became a template for broader anti-government mobilization.
NoteThe Gujarat agitation was significant not just for its immediate success but because it demonstrated that mass movements could challenge entrenched state power, inspiring similar protests elsewhere.
Total Revolution was the concept articulated by Jay Prakash Narayan, the veteran freedom fighter and socialist leader who had long retired from active politics. In 1974, inspired by the Gujarat movement, he was invited to lead a similar student-led agitation in Bihar. JP, as he was universally known, transformed what began as a protest against corruption into a call for comprehensive social, economic, and political transformation—a "total revolution" that would cleanse Indian democracy of its accumulated ills. His moral authority and nationwide stature turned a regional movement into a national challenge to Indira Gandhi's government, ultimately contributing to the imposition of the Emergency in 1975.
The Congress for Democracy was formed in 1977 by Jagjeevan Ram, one of the most prominent Dalit leaders in Indian politics and a long-serving cabinet minister under both Nehru and Indira Gandhi. Ram broke away from the Congress just weeks before the 1977 general election, which was called after the Emergency was lifted. His departure was a body blow to Gandhi's party; the Congress for Democracy joined the Janata Party coalition and played a crucial role in defeating the Congress at the polls. Ram's defection signaled that even loyalists from within Gandhi's own cabinet had turned against the authoritarian turn of the Emergency years.
ImportantJagjeevan Ram's exit from the Congress and the formation of his breakaway party represented not just a political split but a moral repudiation of the Emergency by a leader who had been part of the establishment for decades.
Matching these elements correctly requires recognizing the distinct political identities and moments: Gandhi's populist slogan, Desai's support for Gujarat's students, JP's philosophical and organizational leadership of the Total Revolution, and Ram's dramatic break to form a new party.
✓Final answerThe correct answer is (C): Congress for Democracy with Jagjeevan Ram, Garibi Hatao with Indira Gandhi, the Gujarat student movement with Morarji Desai, and Total Revolution with Jay Prakash Narayan. These pairings capture the key actors and movements that defined India's political crisis of the 1970s.
- CBSE 2026Set 59/2/11 markMCQQ.Arrange the following events in chronological order :(i) Declaration of National Emergency on the basis of internal disturbances.(ii) Railway strike by government employees under the leadership of George Fernandes.(iii) Sixth General Election held in India.(iv) Declaration of the doctrine of 'basic structure' of the Constitution in the 'Keshavananda Bharti' case by the Supreme Court. Choose the correct option : (A) (iv), (ii), (i),(iii) (B) (i), (iii), (iv),(ii) (C) (iii), (ii), (i),(iv) (D) (iv), (iii), (ii), (i)
›Reveal solutionSolution
The Kesavananda Bharati case established the 'basic structure' doctrine in 1973, followed by the major railway strike in 1974, the declaration of National Emergency in 1975, and finally the Sixth General Election in 1977.
The 1970s marked a tumultuous period in Indian politics, characterized by significant legal battles, widespread social unrest, and a profound constitutional crisis. Understanding the sequence of these events is crucial to grasping the political landscape that led to the declaration of the Emergency and its aftermath.
The first event in this sequence, chronologically, is the declaration of the doctrine of 'basic structure' of the Constitution in the 'Kesavananda Bharati' case by the Supreme Court. This landmark judgment was delivered on April 24, 1973. The Supreme Court, in a narrow 7-6 majority, ruled that while Parliament has the power to amend the Constitution, it cannot alter its 'basic structure'. This doctrine placed a significant check on parliamentary power, asserting the judiciary's role as the ultimate interpreter and guardian of the Constitution.
ImportantThe 'basic structure' doctrine established in the Kesavananda Bharati case is a cornerstone of Indian constitutional law, limiting Parliament's power to amend fundamental aspects of the Constitution.
Following this legal milestone, India witnessed a major industrial action: the railway strike by government employees under the leadership of George Fernandes. This strike, which began on May 8, 1974, and lasted for nearly three weeks, was one of the largest industrial actions in independent India. Railway workers demanded better wages, working conditions, and bonus payments. The government responded with severe repression, arresting thousands of workers and their leaders, including George Fernandes, and deploying paramilitary forces. The strike caused massive disruption across the country and highlighted the growing discontent among various sections of society.
The political and economic unrest, exacerbated by the railway strike and other agitations, culminated in the declaration of National Emergency on the basis of internal disturbances. This drastic measure was imposed on June 25, 1975. The government cited threats to national security from internal disturbances as the reason for invoking Article 352 of the Constitution. During the Emergency, fundamental rights were suspended, press censorship was imposed, and political opponents were arrested en masse. This period is widely regarded as one of the darkest chapters in Indian democracy.
NoteThe declaration of Emergency in 1975 was a direct response to perceived internal threats and widespread political opposition, leading to a temporary suspension of democratic freedoms.
The Emergency lasted for 21 months, and its lifting paved the way for the Sixth General Election held in India. This election took place in March 1977. After the Emergency was lifted, the government announced fresh elections, expecting to win comfortably. However, the public mood had turned decisively against the ruling party due to the excesses committed during the Emergency. The opposition parties, united under the banner of the Janata Party, campaigned on a platform of restoring democracy and civil liberties. The election resulted in a historic defeat for the incumbent government, marking the first time a non-Congress party formed the government at the Centre.
Arranging these events chronologically:
- (iv) Declaration of the doctrine of 'basic structure' of the Constitution in the 'Kesavananda Bharti' case (April 1973)
- (ii) Railway strike by government employees under the leadership of George Fernandes (May 1974)
- (i) Declaration of National Emergency on the basis of internal disturbances (June 1975)
- (iii) Sixth General Election held in India (March 1977)
This sequence corresponds to option (A).
✓Final answerIn short, the correct chronological order of the events is the Kesavananda Bharati case (1973), followed by the railway strike (1974), the declaration of National Emergency (1975), and finally the Sixth General Election (1977), making option (A) the correct choice.
- CBSE 2024Set 59/3/11 markMCQQ.Who led the 'Peoples' March' to the Parliament in 1975 ? (A) Jagjivan Ram (B) S.K. Patil (C) Charu Majumdar (D) Jayaprakash Narayan
›Reveal solutionSolution
Jayaprakash Narayan led the 'People's March' to Parliament in 1975, a mass demonstration that became a defining moment in the opposition movement against Indira Gandhi's government.
The mid-1970s were a period of intense political turbulence in India. By 1975, Indira Gandhi's government faced mounting criticism over corruption allegations, economic distress marked by inflation and unemployment, and what many perceived as authoritarian tendencies. The opposition, fragmented across ideological lines, found a unifying figure in Jayaprakash Narayan—affectionately known as JP—a veteran freedom fighter and socialist leader who had long since retired from electoral politics but retained immense moral authority.
JP had emerged as the face of what came to be called the "Total Revolution" movement, a broad-based campaign demanding fundamental political and social change. He called for the dissolution of several state assemblies where the Congress party was in power, arguing they had lost legitimacy. His movement drew students, workers, farmers, and opposition parties into a coalition that transcended traditional political boundaries.
The 'People's March' to Parliament in 1975 was one of the most dramatic expressions of this movement. Thousands of protesters, mobilized under JP's leadership, converged on the national capital to demand the resignation of Indira Gandhi following the Allahabad High Court's judgment that found her guilty of electoral malpractices. The march symbolized the growing popular discontent and the opposition's determination to challenge the government through mass mobilization rather than merely parliamentary means.
ImportantThis march occurred in the charged atmosphere just before the declaration of the Emergency on 25 June 1975. The government viewed such mass demonstrations as threats to stability, while the opposition saw them as legitimate democratic protest.
The other figures listed played different roles in this period. Jagjivan Ram was a senior Congress minister who would later break away to form the Congress for Democracy, but only in 1977. S.K. Patil was a Congress veteran without a central role in the 1975 opposition movement. Charu Majumdar was the leader of the Naxalite movement, which operated entirely outside the framework of parliamentary politics and had no connection to JP's constitutional agitation.
✓Final answerJayaprakash Narayan led the 'People's March' to Parliament in 1975, making (D) the correct answer. This mass demonstration was a pivotal moment in the opposition's challenge to Indira Gandhi's government and set the stage for the Emergency that followed.
- CBSE 2023Set 59/1/11 markMCQQ.Who gave a call for a nationwide Railway Strike in 1974 ?(a) Jayaprakash Narayan(b) George Fernandes(c) Ram Manohar Lohia(d) Morarji Desai
›Reveal solutionSolution
George Fernandes, as president of the All India Railwaymen's Federation, called for and led the historic nationwide railway strike in May 1974.
The railway strike of 1974 stands as one of the largest and most disruptive labour movements in independent India's history. To understand who called it, we need to place ourselves in the turbulent political and economic landscape of the early 1970s.
By 1974, India was reeling under severe economic distress. Inflation had spiralled out of control following the 1973 oil crisis, food prices had shot up, and the common worker found his wages buying less and less each month. Railway employees, who formed the backbone of India's transport infrastructure, were particularly hard-hit. Their demands were straightforward: better wages, improved working conditions, and a bonus structure that reflected the rising cost of living.
George Fernandes was then the president of the All India Railwaymen's Federation, the largest trade union representing railway workers across the country. A firebrand socialist leader with a long history of labour activism, Fernandes had built his reputation fighting for workers' rights in Bombay's textile mills and other industries. When negotiations with the government failed to yield results, he took the decisive step of calling for a nationwide railway strike.
The strike began on 8 May 1974 and brought the entire railway network to a grinding halt. Nearly two million workers participated, paralysing freight and passenger services across the country. The Indira Gandhi government responded with an iron fist, arresting thousands of workers including Fernandes himself, and deploying police and even army personnel to break the strike. After twenty days of confrontation, the strike was called off, though it left deep scars on the labour movement and further polarised an already tense political atmosphere.
NoteWhile Jayaprakash Narayan was indeed a towering figure in the opposition movement of the 1970s and later supported the broader anti-government agitation, he was not directly responsible for calling the railway strike. His role came later, in mobilising the wider political opposition that culminated in the Total Revolution movement.
The strike had far-reaching consequences. It demonstrated the vulnerability of the state to organised labour action, but also the willingness of the government to use force to maintain order. The failure of the strike weakened the railway unions for years to come, and the authoritarian response foreshadowed the Emergency that would be declared just a year later in 1975.
✓Final answerGeorge Fernandes (option b) gave the call for the nationwide railway strike in 1974, acting in his capacity as president of the All India Railwaymen's Federation. The strike became a defining moment in India's labour history and in the political confrontations of the 1970s.
- CBSE 2020Set 59/2/11 markMCQQ.Who among the following was the author of the book titled ‘Economy of Permanence’ ? (A) Maulana Abul Kalam Azad (B) C. Rajagopalachari (C) Acharya Narendra Dev (D) J.C. Kumarappa
›Reveal solutionSolution
The author of Economy of Permanence is J.C. Kumarappa, an economist and close associate of Mahatma Gandhi who developed the concept of a sustainable, village-centred economy.
The book Economy of Permanence is a landmark work in Indian economic thought, written by Joseph Cornelius Kumarappa, better known as J.C. Kumarappa. He was a pioneering economist who worked closely with Mahatma Gandhi and is often called the "father of Indian environmental economics." The book, first published in 1945, lays out a vision of economics that is rooted in ethical values, ecological sustainability, and the well-being of local communities — a sharp contrast to the industrial, profit-driven model of the West.
Kumarappa’s central argument in Economy of Permanence is that true economic progress must be based on harmony with nature and respect for human labour, not on endless consumption and exploitation of resources. He proposed a "permanent" economy — one that could sustain itself indefinitely by using local materials, small-scale production, and cooperative work. This idea directly influenced Gandhi’s own economic programme, especially the emphasis on khadi, village industries, and self-reliant communities.
NoteKumarappa also served as the editor of Young India and was a member of the National Planning Committee set up by the Indian National Congress. His economic ideas remain influential in discussions on sustainable development and swadeshi.
The other names in the options are all important figures, but none wrote Economy of Permanence. Maulana Abul Kalam Azad was a scholar and India’s first Minister of Education; C. Rajagopalachari was a statesman and last Governor-General of India; Acharya Narendra Dev was a leading socialist thinker and educator. None of them authored this particular work.
ImportantJ.C. Kumarappa’s Economy of Permanence is a foundational text for understanding Gandhian economics and the critique of industrial capitalism from an Indian perspective.
✓Final answerIn short, the author of Economy of Permanence is J.C. Kumarappa (option D).
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