Best of BS Opinion: Nobel Prize for economics, rural unemployment, and more

India’s economy needs attention, something that the India-China summit may well have highlighted. And high rural unemployment can hit the country’s overall growth. Our intellectual input into policy making can yield gains in the fullness of time. Uddalok Bhttacharya sums up

The main achievement of the summit between PM Narendra Modi and the Chinese president is the time they spent talking about trade, investment, terrorism, etc, says Ajai Shukla. However, there is little to be hoped for. 

India cannot benefit from a trade deal such as the Regional Comprehensive Economic Partnership without putting its own house in order. Jayanta Roy explains.

The rural unemployment rate at 9-10 per cent, Mahesh Vyas says, is too high.

OUR EDIT SAYS: This year’s Nobel holds out hope for evidence-based policy making. 

QUOTE

 

Not that I think all the other things that they get (Nobel) prizes for aren't important. But it does make people who work in this (poverty) area feel a little more enthused. Lots of people in this world, who do real things, not people like us, people who do real things, this is somewhat of a prize for all of them.

 

Nobel winner Abhijit Banerjee