The objectives of the Institute comprise two broad paths – research and academics. The primary objective right from its inception is is to conduct research on the socio-economic dimensions of the Indian society, study the development programs underway, assess their efficacy and last-mile delivery of public services, study the changes in the Indian economy and society, and impart training to researchers in this domain. The Institute has an equally important objective to train students in economics and economic policy-making, public policy in all disciplines, the economics of development, political economies, and sectors such as finance, business, agriculture, health and education. The thrust areas of research at the Institute are agricultural economics, rural development & cooperation, population studies, input-output studies for planning & development, monetary economics & finance, public economics, and international economics.