• Markonda Shakunthala

India is an example of co-existence of ‘the embarrassingly rich and the desperately poor’. Each sector, industry, community or group is in pursuit of its survival, identity and growth. Pursuit of self-interest is supposed to inherently ensure progress of society, according to received theories and imposed practices, but apparently failed to do so. This paper takes a multi-pronged approach and inquires into the inter- and intra- sectored interactions on wellbeing and measures to make it non-exclusive and equitable. The current real-time instances chiefly from the banking sector are a part of the study to prove the serious repercussions caused by ignoring the complexity of interactions and integrations and treating each factor or variable independently with de-unified knowledge. Consultative participatory institution is presented as an institution that enables interactions of every other variable and factor each reinforcing the other thus avoiding extremities in decision-making and producing unified knowledge in the process. Development and growth with a wellbeing perspective, endogeneity of ethics and non-exclusivity with consultative participatory standpoint is the sine qua non. A criterion for measuring the inclusivity in terms of consultative participation is taken as an indicator of measuring unity of knowledge.

Wellbeing, Consultative Participatory Institution, Unified knowledge, Endogeneity of ethics

"SUSTAINABLE DEVELOPMENT: WELLBEING ECONOMICS APPROACH", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 6, page no.1121-1126, June 2019, Available :http://www.jetir.org/papers/JETIR1908D41.pdf

"SUSTAINABLE DEVELOPMENT: WELLBEING ECONOMICS APPROACH", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 6, page no. pp1121-1126, June 2019, Available at : http://www.jetir.org/papers/JETIR1908D41.pdf