The objective for which the IMEG is established are the following: 

(a) To undertake studies in multi disciplinary areas such as Economics, Statistics, Sociology, Banking ,Commerce, Gerontology, Futurology, Demography, Education, Environment, Ecology, Information technology, Agriculture, Culture, Irrigation, Water management, Political science, Media, Energy, Industry, Labour, Employment, Migration, Gender, Health, Human development, Poverty, Management etc

(b) To undertake studies relating to decentralized planning and local self governments.

(c) To undertake rural rapid appraisal and participatory rapid appraisal studies.

(d) To undertake project formulation work and conduct project evaluation studies and preparations of reports.

(e) To undertake market research surveys and studies, opinion polls, exit polls, listener research and audience research surveys for electronic media.

(f) To Institute studies in economic growth and regional development of India in general and south Indian states in particular.

(g) To undertake computation of natural resource accounting.

(h) To under take studies and consultancy services for the public and private sectors, government, quasi government, autonomous bodies, national and international agencies and organizations.

(i) To organize and run courses in disciplines and problems related to development;

(j) To train officials engaged in planning, project evaluation and related fields, to conduct lectures, seminars, study groups, workshops etc. on development and environmental problems, and issues related to culture.

(k) To Institute and maintain libraries.

(l) To publish research papers, treatises, books and periodicals and other literature relating to the disciplines referred to in clause (a).

(m) To work in closest collaboration possible with the universities, to cooperate with other societies, institutions-national and international engaged in the pursuit of all or any of the above subjects.

(n) To undertake the documentation of important development literature.

(o) To help research scholars in their pursuit of preparation of research papers, theses etc.

(p) To Institute a data bank / data warehouse for mining, cleaning, reformatting data according to use and providing the same to governmental, non governmental and research organizations and other data users.

(q) To do all such things and perform all such acts as may be necessary or appropriate for the achievement of any or all of the above subjects.

(r) Without prejudice to the generality of the above and for the effective carrying out of those objects, and Institute shall have the power to acquire, hold and receive property of any kind, including securities and buildings, including the right to alter and improve them and to equip them suitably, to manage, sell, transfer, or lease any kind belonging to the Institute, to enter into contracts for and in connection with any of the purposes of the Institute and on its behalf to raise moneysand funds, to receive grants, endowments, gifts, donations ,fees and other funds in such manners as may be deemed fit for and on behalf of the Institute.

(s) To incur expenditure and make all necessary financial arrangements for carrying out the work of the Institute.

(t) To establish, maintain or continue one or more provident funds or super annuation funds or similar funds for the benefit of the workers of the Institute.