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Shared Stand With FM Sitharaman On Some Issues In JNU: Abhijit Banerjee

New Delhi: Nobel laureate Abhijit Banerjee has mentioned that Finance Minister Nirmala Sitharaman was his modern in Jawaharlal Nehru College (JNU) and so they each stood on “similar” traces on “certain” points throughout their educational years within the college.

Talking in a tv interview, he mentioned that it was not as if the 2 had deep disagreements. “(Sitharaman was) One of the people whom I knew well… We were even often on similar sides on certain issues. She was my contemporary in JNU. She knew me, I knew her,” he mentioned.

“I would not say we were close friends, but we were friends. And it’s not that we had deep disagreements,” Banerjee added.

The assertion beneficial properties significance as Banerjee, one of many three Nobel Prize winners in economics this 12 months alongside along with his spouse Esther Duflo and Michael Kremer, has confronted flak from a number of quarters within the authorities, together with Commerce Minister Piyush Goyal, after he mentioned that Indian financial system was in a “tailspin”.

When “the economy is going into a tailspin is the time when you don’t worry so much about monetary stability and you worry a little more about demand, the demand is a huge problem right now in the economy,” Banerjee mentioned throughout a information convention on the Massachusetts Institute of Expertise (MIT) within the US final week after he was named for the coveted award.

Piyush Goyal mentioned that it was the declare of a “left-leaning” economist. Banerjee later expressed unhappiness over the Union Minister questioning his “professionalism”. He has additionally been identified for the criticism of demonetisation as he described the transfer as not being “well considered”.

“You have to take it seriously that the economy is in crisis. If you look at that one number that jumps out at me from the analysis of the NSS (National Sample Survey) data, it is the average consumption in India. We are slightly lower today than it was in 2014-15. That’s an unprecedented event,” Banerjee mentioned within the interview concerning the slowing financial system.

Relating to the latest points in JNU, the economist mentioned that the occasions have been “unfortunate” and that JNU has been an establishment that supplied the chance for numerous opinions and there must be an atmosphere for dialogue with “civility” among the many folks with numerous and totally different views.

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