India's malapportionment in electoral constituencies is severe, leading to a lack of adherence to the principle of 'one person, one vote'.
The freezing of seat allocations in India based on 1971 census data has led to unequal representation, particularly impacting economically disadvantaged regions.
Potential solutions include redesigning the Rajya Sabha based on revenue-raising capacity, moving towards a fully decentralized fiscal system, and increasing the number of Lok Sabha seats to uphold the 'one person, one vote' principle.
Implementing homegrown reforms was crucial for India's economic stability after the 1991 crisis, rather than relying on external best practices.
B.R. Ambedkar, known as a Dalit icon, was also an economist with insights on public finance and economic reforms relevant even today.
Fellowship opportunities like the Mercatus Don Lavoie and James Buchanan fellowships offer valuable financial support for students pursuing further studies.