Once, Bharat, the cradle of ancient civilizations, teemed with wealth, culture, and knowledge, making it one of the richest countries in the world.
Sanatan Arthaniti should be the backbone of Bharatiya Economy
Indian economic philosophy is not just a historical curiosity but offers valuable insights and strategies for addressing the complex challenges of the modern world. In this write-up, we will explore the foundational principles of Sanatan Arthaniti, its representation in Vedic literature and the Arthashastra, and its relevance in the contemporary socio-economic landscape.
Foundations of Sanatan Arthaniti
Sanatan Arthaniti is based on the principles of Dharma (righteousness), Artha (wealth), Kama (desire), and Moksha (liberation), collectively known as the Purusharthas, which are considered the goals of human life in Hindu philosophy. It emphasizes the balance between material prosperity and spiritual well-being, advocating for an economic system that sustains not just the individual and society, but also the environment and the world at large.
Vedic Inputs
The Vedas, ancient Indian scriptures composed in Sanskrit, are the oldest texts of Hinduism and contain a wealth of knowledge on various subjects, including economics and governance. The Rigveda, for instance, speaks about the importance of agriculture and cattle rearing, highlighting the significance of natural resources and their sustainable management. The Yajurveda discusses the principles of trade and commerce, suggesting a fair and ethical approach to economic activities.
These texts underscore the concept of “Rita,” the cosmic order, which includes moral, ethical, and social laws that everyone is expected to follow. This emphasizes a holistic approach to economics, where wealth generation is coupled with ethical conduct, social responsibility, and environmental stewardship.
Arthashastra by Chanakya
Kautilya, also known as Chanakya, was a sage and an astute strategist who authored the Arthashastra, a comprehensive treatise on statecraft, economic policy, and military strategy. Written in the 3rd century BCE, it is one of the earliest texts to systematically cover aspects of governance and economics.
The Arthashastra outlines principles for the management of the economy, including agriculture, trade, markets, taxation, and state control over resources. It advocates for a ruler’s role in ensuring the welfare of the people, emphasizing the importance of a strong, centralized administration for economic prosperity and security. Chanakya’s insights on leadership, management, and strategic thinking in the Arthashastra are remarkably relevant for modern-day governance and business.
Relevance in Modern Times
The holistic approach of Sanatan Arthaniti, with its emphasis on balancing material progress with ethical and spiritual values, offers a sustainable model for modern economic development. In an era where environmental degradation and social inequalities pose significant challenges, the principles of sustainable management of resources, ethical conduct in business, and the welfare-oriented role of the state proposed by Sanatan Arthaniti could provide guiding principles for creating more equitable and sustainable economies.
Moreover, the strategic insights from the Arthashastra on governance, diplomacy, and economic policy can inform contemporary policy-making, offering lessons on leadership, the importance of a well-functioning administrative system, and the strategic balance between economic development and welfare.