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

"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

Abhijit Banerjee, Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology
Abhijit Banerjee, Nobel Laureate and Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology | Photo: Wikipedia

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.

"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 from the US.

The 58-year-old economist, who bagged the coveted prize jointly with his 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," Banerjee, who is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology (MIT), said.