Why is stock market closed today on Wednesday April 14th, 2021?

The stock market in India is closed for trading on Wednesday, April 14th, 2021. The equity, currency and derivatives market will now open on Wednesday, April 14 and will reopen for trading on April 15, Thursday. A number of people have been searching, “Why is stock market closed today” and “Why is there a stock market holiday today?” Read on to know details.

Why is stock market closed today?

• In a report published in LiveMint, the stock market is closed on account of Babasaheb Ambedkar Jayanti.

Why is Baba Saheb Ambedkar Jayanti celebrated?

Baba Saheb Ambedkar Jayanti marks the birthday of Dr. Bhimrao Ramji Ambedkar, Father of the Constitution of India and civil rights activist. He was born on April 14th, 1891 in Mhow, Madhya Pradesh.

Significance of Ambedkar Jayanti

• Ambedkar Jayanti is celebrated every year to remember his great contribution to India. He was renowned for being an Indian jurist, economist, politician, and social reformer.
• The Indian Constitution framed by Ambedkar has been hailed by American historian Granville Austin as "first and foremost a social document". T. T. Krishnamachari, who was a member of the drafting committee of the constitution, also thanked BR Ambedkar for his immense contribution in framing it.
• Ambedkar was also the first person to advocate the concept of "universal adult franchise" and suggest "the right to vote". He argued that every citizen should be allowed to vote irrespective of their economic status. At the time, the right to vote was reserved for only the rich, landed and taxpayers. 
• He is also one of the founding fathers of the republic. Besides this, he also helped in shaping India as a democratic country with equal rights for every citizen. 
• Ambedkar also led a fight against untouchability and castism in India after independence. He introduced the reservation system to make sure there was a social balance among every caste in India. 
• Ambedkar was also credited with shaping the formation of the Reserve Bank of India.

Must-read books by the architect of the Indian Constitution

• Castes in India: Their Mechanism, Genesis and Development (1916)
• The Problem of the Rupee: Its origin and its solution (1923)
• Maharashtra as a Linguistic Province (1948)

Image credits: Austin Distel on Unsplash