"There is an urgent need to understand the basic economics by individuals and institutions and then resolve the problems thereof. There is also a need to increase the purchasing power of a common man in order to improve the manufacturing base of the economy," Katju said, addressing a gathering of students.
He also highlighted the need for a revolution by the youth in order to have a logical set of solutions for all the ills prevailing in the society.
Supreme Court judge Justice A K Sikri, Ambassador of Vietnam to India Ton Sinh Thank and High Commissioner of Rawanda Ernest Rwancyo were among those who attended the two-day convention.