According to the nobel laureate, spending is the easiest way to revive the economy as MSME sector will get back to its position which will have subsequent chain reaction
The Congress party on Monday tweeted a 1:44-minute clip from the conversation which will be aired today
Banerjee said that there was no need to immediate need to transfer all the money, but there should be assurance from the government about such transfer in future
Banerjee and Duflo will devise the campaign in coordination with the state government and local doctors.
From clinical trials for a vaccine to steps to be taken after the 21 day lockdown, and questions about Covid-19 spreading through banknotes, read about all this and more here
Nobel laureate Abhijit Banerjee has argued in favour of putting money in the hands of those having Jan Dhan accounts.
The 58-year-old Indian-American economist said the banking and infrastructure sectors were in need of funding from the government
India had passed the Wealth Tax Act, 1957 which was levied on an individual, a Hindu Undivided Family and a Corporate entity on its valuation, which was repealed in April 2016
The latest economic forecasts from the IMF and the World Bank are sobering, pointing to protracted slowdowns across the board
Banerjee also said that demand slowdown in the automobile sector also shows that people are lacking confidence in the economy.
He advocated that the people living in abysmal poverty should be encouraged by giving them assets and freebies.
The comments from the MIT professor, whose work on poverty alleviation won him the coveted Nobel Prize recently, come weeks ahead of the Delhi polls
I think you have to get the demand side going... you need to get money in the hands of people who will spend it now, people who need the money, says Abhijit Banerjee
"Everything will be decided according to the university statute.", the VC said on a question if WB Governor will attend the convocation
But it really gathered momentum in the 2000s, with researchers such as the Nobel awardees designing and implementing experiments to study a wide range of microeconomic questions
In popular culture, the bhadralok usually wears a dhoti
Abhijit wore a black bandhgala jacket paired with an off-white dhoti, and Esther wore a blue, two-toned saree, while Michael Kremer was spotted wearing a black suit
Duflo, who is married to Banerjee, and Kremer will also donate their Nobel prize money
"If you actually want to deal with poverty, happiness and anger in the US, the government will need to have more resources," Banerjee said in an interview in Stockholm on Saturday
The project will be kicked off as a pilot, to study the beneficiary experience in ration shops under the Public Distribution System as well as in mohalla clinics