Indian Economic Association (IEA), the oldest economic association of the world which was formed in 1917, celebrated its 105th Annual conference on the theme India @75- Reviewing Indian Economy for Sustainable Development from 27-79th December 2022 in Ranchi, Jharkhand. The conference was jointly organised by Dr. Shyama Prasad Mukherjee University along with Ranchi University, Jharkhand.
Eminent economists, researchers, scholars, policy analysts, bureaucrats, social workers, and Hon’ble Vice Chancellors of several Indian Universities participated in this 3 days programme.
Professor A.D.N. Bajpai, conference President (IEA) and Hon’ble Vice Chancellor of Atal Bihari Vajpayee Vishwavidyalaya Bilaspur, Chhattisgarh, India; in his presidential address “The Postulates of Spiritual Economics,” highlighted the various aspects of spiritual economics. Professor Bajpai emphasized on the following aspects of developmental and spiritual economics such as;
- Distinguishing between capitalism and socialism along-with role of spiritual model of economics for sustainable development,
- Nexus of soul-body combination for addressing and establishing economic concepts and behavioural practices,
- 63 important guidelines for sustainable economic development in India.
Further, the key consensus that emerged among the various stakeholders are as follows;
- The natural and mineral resource rich state of Jharkhand requires high priority investment in human resource development
- Investment in higher education (appointment of teachers. Their training etc.) is the need of the hour for sustainable socio-economic development
- In an Indian state having 76% rural population, focusing and encouraging secondary and primary sector along-with tertiary sector may yield better and desirable results in near future
