Needonomics as the Anchor for Trump-Proof Export Promotion in Union Budget 2026–27 : Prof. M. M. Goel
Varanasi, January 31, 2026- Prof. Madan Mohan Goel, Propounder Needonomics School of Thought—a Kurukshetra-based think tank—former Vice-Chancellor (thrice), and superannuated Professor of Economics at Kurukshetra University, has called for a fundamental reorientation of India’s fiscal strategy through a FATE (Future Anticipated Trends and Expectations) analysis of the Union Budget 2026–27.
Delivering his address on “Budget 2026: People’s Aspirations and Limitations”, Prof. Goel stressed that credible movement towards Viksit Bharat @2047 demands a budget-making process that is anticipatory, participatory, and genuinely need-based. He underlined the importance of meaningful pre-Budget stakeholder engagement to ensure effective and inclusive policy outcomes.
The online discussion was organised jointly by the Purvanchal Economic Association, Varanasi & Dept. of Economics Jan Nayak University Balia (UP) . Prof. Vishwanath Kumar, Secretary of the Association, delivered the welcome address and formally introduced the speakers.
Despite India approaching a USD 4 trillion economy, Prof. Goel observed that growth remains deeply unequal, with the top 10 per cent accounting for a disproportionate share of consumption, while poverty, youth unemployment, and labour informalisation continue unabated. This widening disparity, he argued, reflects the rising dominance of “Greedonomics” over “Needonomics”, thereby undermining inclusive, humane, and sustainable development.
Referring to emerging global trade uncertainties, Prof. Goel anticipated the need for “Trump Terrorism–proof” export promotion measures in the Union Budget 2026–27. He emphasised strategic bargaining, economic diplomacy, and resilience-building to safeguard India’s trade interests and global competitiveness.
While expecting broad continuity with the Sapta Rishi framework, Prof. Goel outlined the likely thrust areas of the upcoming Budget, including Inclusive growth, Infrastructure expansion under PM Gati Shakti, Green development ,Skill-based employment generation, Women empowerment, MSME-led industrialization, Trump Terrorism–proof export promotion, Farmer welfare, Revival of private investment, Social security for unorganized workers
Articulating citizens’ expectations—particularly those of the middle class, Prof. Goel called for:
Raising public expenditure on education to 6 per cent of GDP,Timely government recruitment and reduction in excessive contractualisation,Greater transparency and accountability in governance,Dignified and universal social security coverage
Identifying incomplete industrialization as India’s core structural weakness, Prof. Goel pointed out that manufacturing’s stagnant 14 per cent share of GDP has resulted in jobless growth.
He stressed that large-scale expansion of labour-intensive manufacturing is essential to generate employment for millions and fully harness India’s demographic dividend.
Prof. Goel asserted that the Union Budget 2026–27 must realign fiscal priorities with the genuine needs of the people—especially the middle class—centred on employment, equity, dignity, and sustainability, if India is to truly walk the talk of Viksit Bharat @2047.
