Published: Sun, October 20, 2019
Global News | By Blake Casey

Nobel laureate Banerjee on NYAY, lauds govt schemes

Nobel laureate Banerjee on NYAY, lauds govt schemes

Congress leader Priyanka Gandhi Vadra on Saturday hit out at Union Minister Piyush Goyal for his remarks on Nobel laureate Abhijit Banerjee, saying the government's job was to improve the "collapsing" economy and not to run a "comedy circus".

Congratulating Banerjee, Rahul Gandhi had said he had helped the party conceptualise its NYAY scheme to help remonetize the economy.

Goyal on Friday, while congratulating Banerjee on winning the Nobel at a press conference, said: "You all know what his understanding is". The party was routed in the polls.

"Dear Mr Banerjee. These bigots are blinded by hatred and have no idea what a professional is. Your job is to improve it not to run a comedy circus", she said.

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Abhijit Banerjee was one of the economists who was consulted by the Congress party before the announcement of their ambitious social welfare programme-NYAY (Nyutam Aay Yojana).

In an interview with CNN News18, this year's victor of Nobel prize in Economics Abhijit Banerjee shrugged off the responsibility of NYAY, claiming that it was not "necessarily a well-designed scheme". His thinking is left-leaning. "He sang praises of NYAY, but the people of India totally rejected the scheme and his ideology", the Minister said.

"I am not partisan in my economy thinking", he continued, pointing out he had worked with the Gujarat pollution board back when Prime Minister Narendra Modi was still a Chief Minister. "They [Congress] asked me a perfectly legitimate question - how much money would it take to implement a guaranteed income.if the BJP had asked me for the same numbers, I would have given it to them". But nonetheless, I think that this is something that I think even the government is increasingly recognising that there is a problem. "How fast we don't know, there is this dispute about data but I think fast", he said.

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