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# World

Nobel Prize for Economics 2019 awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer

The Laureates’ findings have had direct result of one of their studies, more than five million Indian children have benefitted from effective programmes of remedial tutoring in schools.

SNS | New Delhi | October 14, 2019 3:57 pm

Nobel Prize for Economics 2019 awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer

(Photo: Twitter @NobelPrize)

The Royal Swedish Academy of Sciences awarded the 2019 Sveriges Riksbank Prize to Abhijit Banerjee, Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty.”

The Swedish Academy of sciences awarded the Nobel Prize to the three for their research which, “has considerably improved our ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research.”

With the prize comes a 9 million-kronor ($918,000) cash award, a gold medal, and a diploma. Abhijit Banerjee and Esther Duflo from Massachusetts Institute of Technology, Cambridge, USA and Michael Kremer from Harvard University, Cambridge, USA have had direct result of one of their studies. More than five million Indian children have benefitted from effective programmes of remedial tutoring in schools. Another example is the heavy subsidies for preventive healthcare that have been introduced in many countries.

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# Bengal

Nobel laureate Abhijit Banerjee criticises Centre over fiscal policy

Banerjee, who is also the chairperson of the Global Advisory Board on the Covid-19 pandemic set up by the West Bengal government, said while speaking on the continuous increase in cess for the last seven years, "The government has a fiscal problem. This is a government that has more faith in balancing the budget than realising the actual problem. I have been in favour of more free-spending policies. This (increase of cess) is because of that."