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PM Modi was gracious in congratulating me, economic slowdown not India specific: Esther Duflo on India, PM Modi and the Economy

Speaking to Times of India on the issue of economic slowdown, Duflo said that the slowdown was not just an India-specific problem.

Nobel Prize Winner and economist Abhijit Banerjee’s wife Esther Duflo has praised PM Modi and Indians for showing more grace in congratulating the trio after they won the 2019 Nobel Prize for Economics. Esther Duflo, who belongs to France also stated how President Macron only congratulated her and did not mention the other two for winning the prestigious award.

In an interview to Times of India, Esther Duflo expressed that Indians and PM Modi have shown more class in congratulating them, especially her, after the trio of – Michael Kremer, Abhijit Banerjee and Esther Duflo won the 2019 Nobel Prize for Economics.

Duflo further stated that PM Modi did graciously congratulate her and Michael Kremer in a tweet along with Abhijit Banerjee. She recognised the grace of PM Modi, who had congratulated not only Abhijit Banerjee but also the other two economists.

Read: Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel: Read how Nobel Prize in Economics differs from original Nobel Prizes

As Nobel Prize Committee announced the award for the trio for their work “experimental approach to alleviating global poverty”, Prime Minister Narendra Modi congratulated Indian-American Abhijit Banerjee on winning the Nobel Prize for Economics, saying he has made notable contributions in the field of poverty alleviation. He had also congratulated Esther Duflo and Michael Kremer for winning the Nobel.

Speaking to Times of India on the issue of economic slowdown, Duflo said that the slowdown was not just an India-specific problem. Duflo added that the slowdown is not just in India, but it is also in China. “There are also fears of a recession in the US and Europe. If you can’t boast about the economy, you find something else – and that problem is everywhere. The thing is to acknowledge it and not do silly things,” added Duflo

Analysing the current slowdown, she said even China has revised its growth target to 7% from double-digit levels, the Premier has called it “The New Normal”, and the press is dutifully echoing it. She suggested that the governments can do two things in bad times to protect the poor, first being not slashing social programmes, and using the existing money even better.

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