Abhijit Banerjee, a renowned economist who has been awarded the Nobel prize for economics on Monday, has shed some light on the Indian economy.
Banerjee has given his response to the queries raised by Raghuram Rajan, another renowned economist and former Chief Economic Adviser to the Indian prime minister.
During his OP Jindal Lectures at Brown University in the United States last week. According to Banerjee, the Indian economy needs to put money into the hands of the Indian public, whether that is through raising the wages for India’s employment guarantee schemes, raising prices for farmers and letting the rupee slide.
Banerjee has been a regular critic of the current government’s moves, particularly demonetisation and the implementation of the Goods and Services Tax.
Along with Banerjee, Esther Duflo has also who won the Nobel prize for Economics. The duo has written a book that will be coming out this month.