“Needo-data on performance indicators calls for strengthening data infrastructure in India necessary for searching the solutions for sustainable progress,” opined Professor M.M. Goel Vice-Chancellor Starex University Gurugam and Founder of Needonomics School of Thought. He was speaking at the valedictory function of 103rd Annual Conference of the Indian Economic Association on the topic “Needonomics for Sustainable Society” organised at Manipal University Jaipur.  

We have to understand the power of needonomics (economics of needs) with needo-consumption as a stress-free state with no to greed which causes all the ills including terrorism, corruption, discrimination and discontent ensure sustainable society, believes VC Starex University.

For facing chakravyuha challenges in the Indian economy, adopt   Needo-banking as Bad Bank which is a corporate structure that isolates risky assets held by banks in a separate entity to buy NPAs from a bank at a price that is determined by the bad bank itself, explained needonomist Goel.

For ensuring a sustainable society, we have to adopt needonomics flowing Gita and used by LIC of India in its logo‘Yogakshemam Vahamyaham’(Your welfare is our responsibility) and become street SMART ( simple, moral, action-oriented, responsive and transparent) with no to greedonomics, explained needonomist Goel.

The key to reducing $14.3 trillion yearly economic losses from violence and building long term peace with an improved ranking from 139th  in the Global Peace Index (GPI) 2020 is to adopt needonomics, explained VC Goel.

To work without worries for a sustainable society, we have to be soul-conscious as the real education needed today in addition to proper, productive and practical (3P) use of head, heart and hands (3H), believes founder Needonomics School of Thought.

Free rider problem inbuilt in the economy calls for effective implementation of the user pay principle with self-consciousness, told Prof. Goel

We have to address the illness in the behaviour of all the stakeholders in the economy including consumers, producers, distributors, traders, policymakers and politicians, told Prof. Goel.

To succeed in our endeavour of a sustainable society, we need faith in the capabilities and capacities with a disciplined lifestyle by understanding the power of worship with devotion, told Prof. Goel.

To achieve sustainable development goals, we need the REACH model with five steps including reading Gita, empowerment with enlightenment, altruistic approach, commitment and hold on needs, explained Prof. Goel.

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