1974 - 2010 old flag of Myanmar meanings : What do its colours and symbols represent ?

Before changing to current tricolour State Flag 🇲🇲 , a rectangular flag with red field and blue canton charged with white ears of paddy and white pinion encircled by 14 white stars was used since the country officially renamed to " Socialist Republic " on 3.1.1974, until the adoption of current tricolour on 21.10.2010.
So, what do its colours and symbol actually represent? Most foreign websites and channels wrongly interpret their meanings, for example, they interpret the emblem ( paddy / rice and pinion / cogwheel ) in the canton as symbols of agriculture and industry while it is actually the symbol of peasants and workers.
Here is my translation of official meanings according to law and textbooks.
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State Flag 3.1.1974-21.10.2010
State Flag of the Socialist Republic of the Union of Burma (3.1.1974-18.9.1988)
State Flag of the Union of Myanmar (18.9.1988-21.10.2010)
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[@rule.burmannia]

0:38 Here, *နိုင်ငံတော်* means *State* .
The line goes like:
The *peasant* and *worker* are the fundamental social classes of building the *State* .

[@dindings]

The flag comes from the party