In April 1921, Dr. Bhimrao Ambedkar read a paper on "Responsibilities of Responsible Government in India", before the students union. The Government of Bombay appointed an Indian as an Education Minister. Dr. R. P. Paranjapye held the portfolio from the date the Act came into force, i.e., 3.2.1921 upto December 1923.
In June 1921, He Obtain the Degree M.Sc. in Economics in England. The thesis was "Provincial Decentralisation of Imperial Finance in British India".
In 10 May 1922, He was visited to Bonn University in Germany and took admission in Bonn University for further higher studies.
In 1922 Dr. Ambedkar submitted the thesis for Doctoer of Science (D.Sc.) "The Problem of the Rupee-Its Origin and its solution" to the London School of Economics and Political Science, London.
During 1922-1923 he leaves London for doctoral studies at Bonn University in Germany. He studied German and French languages there and startup preparation for his thesis. He also reads economics in Germany.
In 1923 he was called back to London by Prof. Edwin Cannan, where he was asked to resubmit his thesis after rewriting it, which has submitted later on from Bombay in April 1923, for which he was awarded the D.Sc. Degree. The thesis was published in December 1923 by P S King & Company, London. Reissued by Thacker & Company, Bombay in May 1947 under the title History of Indian Currency and Banking Vol. 1. He completed a D.Sc. in Economics, and the same year he was called to the Bar by Gray's Inn.
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