The Relevance of Needonomics for Viksit Bharat at 2047

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November 6, 2023
In a thought-provoking address, Prof. Madan Mohan Goel, a distinguished former Vice-Chancellor known for pioneering the Needonomics School of Thought and retired from the Department of Economics at Kurukshetra University, emphasized the importance of an environmentally friendly approach to prepare for Vikasit Bharat in 2047. He shared his insights during a distinguished lecture organized by LNCT Group of Colleges in Bhopal, Madhya Pradesh, as part of the Amrit Kaal Vimarsh Vikasit Bharat @2047 program initiated by the Government of India. The lecture revolved around the “Relevance of Needonomics for Vikasit Bharat.”
Prof. Goel noted that the Union Budget 2023-24, with a size of Rs 4503097 crore earmarked for Vikasit Bharat in 2047, reflects the government’s commitment to the principles of Needonomics.
He stressed that discussing the transformational changes necessary to achieve Vikasit Bharat by 2047, including the National Education Policy, is essential.
To ensure the export of “needo” (products and services based on Needonomics), Prof. Goel advocated adopting the NAW (Need, Affordability, and Worth) approach to marketing with a focus on needo-consumption.
He highlighted the need for needonomics to encompass needo-wealth, needo-health, and needo-happiness as India moves toward 2047.
Prof. Goel urged the adoption of needo-consumption, needo-saving, needo-production, needo-investment, needo-distribution, altruism, and needo-trade, emphasizing the importance of glocalization (thinking globally and acting locally).
To promote needo-altruism and the spirit of “Not Me but You” advocated by the National Service Scheme (NSS), Prof. Goel encouraged individuals to strive for financial self-sufficiency to help others.
He emphasized that the challenges of the modern world require a strategy rooted in spiritually guided materialism (SGM).
Prof. Goel underscored the need to address the behavioral aspects of stakeholders, including consumers, producers, distributors, traders, policymakers, and politicians.
In conclusion, he stressed the importance of adopting Needonomics as a common-sense approach for Vikasit Bharat towards 2047, promoting a street SMART (Simple, Moral, Action-oriented, Responsive, and Transparent) mindset.
The event was further graced by the Hon’ble Executive Director of LNCT GROUP, Mrs. Shweta Chouksey, who felicitated Prof. Madan Mohan Goel with plant saplings, mementos, and shaal – shreefal. Dr. Ashok Kumar Rai, Director Administration of LNCT GROUP, extended his gratitude to AICTE and the Ministry of Education for selecting LNCT GROUP to host the Amrit Kaal Vimarsh Viksit Bharat@2047 Development-Dialogue on the Relevance of Needonomics for Viksit Bharat. The program was hosted by final-year student Ms. Simon Rathore, with a welcome address delivered by Dr. V. K. Sahu, Principal of LNCT, and program coordination by Dr. Anoop Chaturvedi, Dr. Amitbodh Upadhyaya, and Dr. Amit Shrivastava.
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