Folk art carries its own charm. But if you ask me from the personal progress point of view then fine arts is certainly better. Aesthetics and creativity are among the most important elements of Art. Folk art can be limiting that way. It is beauty within certain fixed boundaries of tradition. Fine art helps explore deeper.
You will find about differnt aspects of Art in Sri Aurobindo’s Rennaisance in India as well as several places in the Mother’s writings.
Affectionately,
Alok Da