Indian economy on a shaky ground, says Nobel awardee Abhijit Banerjee

Current data not assuring revival any time soon: Abhijit Banerjee

October 14, 2019 11:21 pm | Updated October 15, 2019 10:34 am IST - Kolkata

Mumbai: December 10, 2018: Abhijit Banerjee, Professor of Economics at the Massachusetts Institute of Technology delivering his lecture at the 7th C. K. Prahalad Memorial Lecture "Can India Keep Growing" at Asiatic Library Hall in Mumbai on Tuesday. Photo: Arunangsu Roy Chowdhury

Mumbai: December 10, 2018: Abhijit Banerjee, Professor of Economics at the Massachusetts Institute of Technology delivering his lecture at the 7th C. K. Prahalad Memorial Lecture "Can India Keep Growing" at Asiatic Library Hall in Mumbai on Tuesday. Photo: Arunangsu Roy Chowdhury

Indian-American Abhijit Banerjee, who on Monday won the 2019 Nobel for Economics, said Indian economy was on shaky ground.

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

“The condition of the Indian economy is on shaky ground. After witnessing the present [growth] data, just can’t be sure about it [revival of economy in the near future]. In the last five-six years, we could at least witness some growth, but now that assurance is also gone,” Mr. Banerjee told a news channel from the U.S.

 

The 58-year-old economist, who bagged the coveted prize jointly with his wife Esther Duflo and another 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 have been doing this research for the last twenty years. We have tried offering solutions towards alleviation of poverty,” Mr. Banerjee, who is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology (MIT), said.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.