Indian-American Nobel prize winner economist Abhijeet Banerjee on Monday said that the government should make policies that work for the people.
Indian-American Nobel prize winner economist Abhijeet Banerjee on Monday said that the government should make policies that work for the people, TV news channel CNBC TV-18 reported. There is a willingness to announce policies that sound good and serve the political purpose dictate their nature, he also said in an interview after receiving the 2019 Nobel Prize for Economics along with the other two economists Esther Duflo and Michael Kremer. Abhijeet Banerjee and Esther Duflo are married to each other. He also said that NREGA seems to be a rather solid success in India as it helped in reducing poverty by increasing wages. The rural roads programme — PMGSY — is also a very effective plan as it made much easier for people to migrate to jobs, he added.
On farmer income transfer scheme KISAN, he said that it’s a good idea. It is sensible to move away from support prices to a cash to farmer mechanism, he added. However, the amount disbursed under the scheme is not big, he noted. Saying further, he said that the government teachers an overpaid crop of people who don’t have much use in the system. Many government schools have only 5 to 7 students, but a lot more teachers, he added.
At present, Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT. He also co-founded the Abdul Latif Jameel Poverty Action Lab. Being a research affiliate of Innovations for Poverty Action, he is also a member of the Consortium on Financial Systems and Poverty. In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy. Abhijit Banerjee also held the president post of the Bureau for the Research in the Economic Analysis of Development, a research associate of the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research, an international research fellow of the Kiel Institute, fellow at the American Academy of Arts and Sciences, and a fellow at the Econometric Society.