Eco survey urges behavioural economics nudge for socio-economic goals

The branch of economics has gained traction in policy making recently, becoming more popular after economist Richard H Thaler, known for his work on 'Nudge' theory, won Nobel in 2017

From reminding citizens of religious tenets to make them repay their debts and not willfully default on their loans, to improving efficacy of government’s social programmes, such as financial inclusion, the Economic Survey lay great emphasis on government deploying Behavioural Economics as a tool to improve outcomes.

The branch of economics has gained traction in policy making over recent times, and acquired yet more popularity after economist Richard H Thaler, noted for his work on