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    Indian economy on a shaky ground: Nobel awardee Abhijit Banerjee

    Synopsis

    Abhijit Banerjee, who on Monday won the 2019 Nobel for Economics, said Indian economy is on a shaky ground.

    Indian economy in 'tailspin' warns Nobel laureate Banerjee
    KOLKATA: Indian-American Abhijit Banerjee, who on Monday won the 2019 Nobel for Economics, said Indian economy is on a shaky ground.

    The data currently available do not hold any assurance for the country's economic revival anytime soon, he stated.

    "Indian economy is on a shaky ground. After witnessing the present (growth) data, just can't be sure about it (revival of economy in near future).

    "In the last five-six years, at least we could witness some growth, but now that assurance is also gone," Banerjee told a news channel from the US.

    The 58-year-old, who bagged the coveted prize jointly with wife Esther Duflo and economist Michael Kremer for his "experimental approach to alleviating global poverty", said he never thought he would get a Nobel so early in his career.

    "I was quite taken aback after my name was announced. Never thought, I would get it so early. I thought I would be getting it after at least 10 years...

    "We have been working on the subject for the last twenty years. We tried offering solutions towards alleviation of poverty," Banerjee said.

    He also maintained that days spent in Kolkata have helped him understand "various aspects" during his two- decade-long research.

    "I have been to several countries for my research work. My childhood experiences, teenage years in Bengal have also helped me understand several aspects during the initial years of my research," he said.

    An alumnus of Presidency College (now University), Jawaharlal Nehru University (JNU) and Harvard University, Banerjee had received his Ph.D in 1988.

    He is currently the Ford Foundation International Professor of Economics at the MIT.

    Asked about his reaction on hearing about the big win, the Nobel laureate said he went to sleep after the news arrived.

    "After hearing about it, I slept for 40 minutes straight as I knew I will have too many calls to attend once I wake up. I haven't been able to call my mother yet will speak to her soon," he added.
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    45 Comments on this Story

    Richie 406 days ago
    Chalo Hai so hai ... Still believe Modi hai to mumkin hai...
    abe c406 days ago
    For want of Financial emergency against Banks fraudsters alike Political around ''75 required stern-actions aroused furors of
    Protesters if underpin the same Anti-social elements in rear views if not Reverse punches now necessary to catch much the
    same Target points after ducked the offenders as recovered from ignominies that Despots are in charges of democracy lest
    sufferers by design or defiance lost their Savings deposits to Private trap speed tellers & convenient hours unlike Scheduled
    branches not yet merged or swallowed under RBI''s watch only appalled at current apathy as confirms in disbelief previously
    Governor RRR not hurried back to Academics would also be found in Jails at the hands of perpetrators whose Objectives to
    Re-imagine India for Communal hardened hindus alone as State''s subjective Religion & Cow Charity not some Novel RCT''s
    techniques by poverty alleviators cost Exchequer else any NYAY''s otherwise well-spent over Party''s SAworkers Ads & Event
    Managers win Elections?! Matter of fact Political outfits unable pointed out Whether or not India was born of a Hindu rashtra if
    so Where & how to seek now Judicial estab show colors itself While Multi-crores with open mouth & hungry to also either of
    What was required to do without Temple-tantriks & Rope-tricks amuse voters who can''t distinguish Pradhan''s on road-shows
    than Which credibility be attached for the RBI Board who won''t advise President of India to impose urgently Fin-Emergency
    ...
    Jayaram Ramaswamy406 days ago
    The moot point is , has his research along with his wife , be of any use to India to revive? I am not sure , it is goal achieved prematurely as he himself claims. Be of some USE to the country you have spent your youth and try help the economy to revive, then perhaps I shall feel you truly deserve.
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