All is Not Well With Indian Economy: Nobel Laureate Abhijit Banerjee

By The Newsroom Network On Oct 15, 2019

Abhijit Banerjee speaks during a news conference at Massachusetts Institute of Technology in Cambridge, Mass., Monday, Oct. 14, 2019. Banerjee along with Esther Duflo and Harvard's Michael Kremer, were awarded the 2019 Nobel Prize in economics for pioneering new ways to alleviate global poverty. (AP Photo/Michael Dwyer)

New Delhi: Abhijit Banerjee, who won the Nobel Prize for Economics this Year has said that 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 has stated.

According to Abhijit, “The condition of 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 after winning the Nobel.

The 58-year-old economist was also very critical of Modi Government’s economic policy including the much hyped demonetization move of 2016 and the rollout of GST later.

Nobel winner Dr. Banerjee is one of the economists consulted for formulating NYAY or Nyuntam Aay Yojana, a flagship scheme promised by Congress in its 2019 election manifesto that ambitiously aimed to provide basic income to the poorest 20 percent of India’s population.

“I have been doing this research for the last twenty years. We have tried offering solutions towards alleviation of poverty,” Banerjee, who is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology (MIT), said.

With Inputs from Agencies.

Indian Economy Nobel Laureate Abhijit Banerjee