'Thankfully Banerjee didn't get Nobel for NYAY'

October 14, 2019 19:36

The government is unlikely to seek help from economists like Dr Manmohan Singh or Raghuram Rajan or Abhijit Banerjee to revive India's flailing economy. In fact, Meghalaya governor Tathagata Roy's mindset is an inkling of how the Centre probably thinks. In the wake of Dr Banerjee's Nobel prize, Roy tweeted, "I had never heard of Abhijit Banerjee before. But then,I am not an economist. It is merely his Indian blood that gave me a feeling of pride. Just as I felt proud of Hargobind Khorana,S.Chandrasekhar or V.Ramakrishnan. After all,even Zionist Jews are proud of Karl Marx!

"I personally believe NYAY was a crazy and harebrained scheme. Even the progenitor of that scheme isn't mentioning it any more. Thankfully Banerjee and Duflo did not get the prize for NYAY. I am told he got it for some good experimental work, not anything fundamental."

The NYAY connection: Congress president Sonia Gandhi on Monday congratulated Indian-origin economist and academic Abhijit Banerjee, besides Esther Duflo and Michael Kramer, for receiving the Nobel Prize in Economic Sciences, while party leader Rahul Gandhi said Banerjee helped the Congress conceptualise its "Nyay" scheme.

"Apart from making the nation of his origin proud by this spectacular achievement, Prof Banerjee's and his fellow recipient's work in 'experimental approach to alleviating global poverty' had helped millions across the globe, including India, come out of poverty. Their methodology, approach and experiments were exemplary and of extreme contemporary relevance. His recognition as a Nobel laureate has delighted every Indian," Sonia Gandhi said in a statement.

Congratulating Banerjee, Congress leader Rahul Gandhi said he had helped the party conceptualise its "Nyay" scheme to help remonetise the economy.

"Congratulations to Abhijit Banerjee on winning the Nobel Prize in Economics. Abhijit helped conceptualise NYAY that had the power to destroy poverty and boost the Indian economy. Instead we now have Modinomics, that's destroying the economy and boosting poverty," he said on Twitter.

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