Name: Shivaraju
Country: India

Year: 2026
Volume: Volume-16, Issue-1 (Special Issue: March 2026)
Page Number: 171-177
DOI: https://doi.org/10.5281/zenodo.19184021

ABSTRACT
The present paper is made an attempt to analyse and critical evaluation of the role of
innovation in economics, because the economics is a subject of social science, which dealing with the behavior of people, businesses and government and which try to satisfying the essential needs with available scarce resources. In economics, another major problem is allocating available resources at optimum level in different sectors like, consumption, production, storing and distribution activities. In all the areas/activities of economics, major requirement is an advancement in their operation and improve the value, so, the innovation is crucial in efficient operation of all economic activities, because, the innovation today plays a dynamic role in bring novelty in everything. In improving competitiveness in market operation, enhance productivity, efficiency in resource utilisation and quality in human resource etc. To have a prosperous society, innovation in all economic activities is