Indian economy doing well, assures Nobel economist Stiglitz

January 11, 2012 17:12

Noted economist Joseph Stiglitz today praised Indian performance, saying the country had been doing a good job when institutions in the US and several other countries faltered.

"India is doing a good job and has been pursuing a balanced and cautious policy," Stiglitz said.

The Nobel Prize winner in economics in 2001, Stiglitz, who was delivering a lecture in the Indian Statistical Institute in Kolkata, said that a government needed to play an important role 'in any economy correcting pervasive market failures.

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