•      Fri Jun 21 2024

Indian economy on a shaky ground: Nobel awardee Abhijit Banerjee


KOLKATA, Oct 14 : 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.