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Latest Articles in mahatma gandhi national rural employment guarantee scheme mnregs

The Middle Classes Have Become Hollowed Out: Nobel Laureate Prof. Abhijit Banerjee

On an exceptionally clear afternoon in August, Manish Kumar Jha of BW Businessworld sought him out in the capital during a visit to India and picked his mind on the state of the Indian economy, India’s privatization programme and the need for centres of excellence in academia which is lacking in advance and cutting edge R&D. The discussion centered on the inflation--rise in prices of consumer products; a “realignment of the market” as it adjusts to the growing inequality among consumers. He advocated injecting more liquidity into the economy. He did not consider the Indian economy to be “unusually closed” in the perspective of the developed West or China. And let the “rupee slide” to promote Indian exports, among other things. Excerpts:

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This Is Not The Time To Hold On To Fiscal Framework: Rajiv Kumar, Vice Chairman, Niti Aayog

“So a consumption-led fiscal stimulus will not result in a virtuous economic cycle unless its magnitude is huge as has been the case in the US or other advanced economies”

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We Are In Phase Of Creeping Protectionism And MGNREGA Is Still The Best Bet In Rural Areas: Nobel Laureate Abhijit Banerjee

Abhijit V. Banerjee, Professor of Economics at Massachusetts Institute of Technology, received the 2019 Nobel Prize for Economic Sciences. How well his ideas fit into India’s economic growth amid the volcanic challenges are debated in his book--Good Economics for Hard Times-- which he co-authored with Esther Duflo. He touches upon more politically contentious issues like trade, inequality and the universal basic income for those who are left out of the economic growth story. In a free-wheeling conversation with Manish Kumar Jha of BW Businessworld, Prof. Banerjee comments on India’s healthcare, the privatization, fiscal support, and the complex matrix of Direct Benefit Transfer Scheme. He asserts that the Indian economy could be competitive should “we open ourselves to trade”. Excerpts:

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