• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Indian economy doing very badly: Nobel awardee Abhijit Banerjee

By PTI
|

New Delhi, Oct 15: Indian-American Abhijit Banerjee, who on Monday won the 2019 Nobel for Economics, said Indian economy is on shaky ground.

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

Image credit: Youtube

"Indian economy is on 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 PhD in 1988.

Abhijit Banerjee: Erudite economist’s remarkable academic journey from Kolkata to Massachusetts

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.

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more