The Potential Role of Irrationality and Behavioural Nudges in Entrepreneurship Development Policies in India Banerjee Arnab1, Jain Pradeep K.2 1Assistant Professor, Department of FMS, NIFT, Shillong, Meghalaya, India. arnab.banerjee@nift.ac.in 2Professor, Department of Business Administration, Gauhati University, Guwahati, Assam, India. pkjain60@gmail.com JEL Classification: Z13 Online published on 31 January, 2022. Abstract Entrepreneurship Development Programs have received a lot of socio-political thrust in India especially of late. This is not unexpected for a country that is entering its maturity, in terms of economic stature; where entrepreneurship is one of the primary means of attaining nationwide financial and social growth for all sectors of society. The current article proposes to understand whether India as a nation has reached equilibrium or is still in a state of flux, when it comes to choosing a career between entrepreneurship and job-seeking. The study also looks into the underlying forces and policy implications for sustained progress in Indian Entrepreneurial scenario. The article first looks to validate the claim that there is a need for advocacy of entrepreneurship. Subsequently, it uses the notions of irrationality and behavioural economics to suggest more effective and sustainable policy framework, by explaining entrepreneurship as a process such as the Transtheoretical Model. Top Keywords Behavioural economics, Entrepreneurship, Irrationality, Nudging, Policy implications. Top |