The news of Amartya Sen receiving the Nobel Prize for economics was hailed by all in West Bengal, his home state.
"It's great news," said eminent economist Mihir Rakshit. "Given Sen's remarkable contribution to welfare economics, the award should have been conferred on him earlier."
Rakshit said, with the exception of Kenneth Arrow, no other economist has made such contribution to welfare economics. "What makes Sen's work unique is that he has added a humane face to economic theories. Sen's works, especially later ones, have dealt with subjects like human well-being, improving human capability, gender bias and others," he said.
Asim Dasgupta, West Bengal's finance minister and an economist of repute, said, "It is a matter of pride for the entire Third World and for India, particularly West Bengal." Dasgupta extended his greetings and congratulated Sen on behalf of the Left Front.
Rakhal Dutta, former head of the department of economics, Calcutta University, said few economists had contributed to so many areas of economics as Sen. Starting from investment criteria, Sen has covered a wide range of issues, including poverty alleviation and empowerment of women. His winning the Nobel prize was well deserved, Dutta added.
