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Why is Gold Ochre Transparent, Venetian & Indian Reds necessary too?
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I suppose very few colors are truly "necessary" and what those few colors are would be open to considerable debate. However there is the perennial question of "What is better, a limited palette or a more expanded one?"
Many artists feel that a limited palette is easier to learn on. You can get to know all the characteristics of those few colors more quickly, and you're forced to concentrate more on value, which after all, is where the power of just about every painting comes from.
But here's a reason in favor of a more expanded palette, given to me by my former teacher Tony Ryder (whose palette had 42 colors on it!) He made the analogy of preparing food and needing some mustard for whatever you're making. You can go and get all the separate ingredients in mustard and mix them all together in the right proportions to get what you want.... or you can just go out and buy a bottle of mustard. There's a clear time savings involved.
All in all, it comes down to personal choice. I have about 14 colors on my palette, with a few additions now and then for certain specific subjects.