Dr B.R. Ambedkar was a visionary social reformer and economist who dedicated his life to addressing social inequality and promoting economic justice. This research paper explores the conceptualisation of the economic-social environment of Dr Ambedkar and its relevance to achieving equality, justice, and sustainable development. It examines his views on the interconnected roles of society, the state, and institutions in shaping economic progress and social harmony. The study focuses on his efforts to eliminate caste discrimination, promote social democracy, and balance individual freedom with state intervention. The study also discusses the proposed solutions of Ambedkar for economic stability, including land redistribution, rights of workers, state involvement in economic regulation, and technological advancement. The research highlights the continued relevance of his ideas in addressing modern socio-economic challenges, demonstrating the lasting impact of his comprehensive approach to social and economic reform.