Nobel prize economist says India must do more for poor

A Nobel-prize winning economist has said India needs to be “much more generous” in providing relief to the millions of people who have been direly hit by the ongoing lockdown. “We haven’t done anything close to enough,” Indian-American academic Abhijit Vinayak Banerjee, told the BBC.

After imposing the lockdown on 24 March, India announced a $23bn (£18bn) relief package. Much of it involves cash transfers and food security for the poor. “We don’t want anyone to remain hungry, and we don’t want anyone to remain without money in their hands,” Finance Minister Nirmala Sitharaman said at the time.

Professor Banerjee, who won the Nobel Prize in economics in 2019 with co-researchers Esther Dufflo and Michael Kremer, said the “government was right in its thinking to throw a shock in the system” to contain the spread of the Covid-19 infection. “But the lockdown is not the end of the story. This disease is going to be with us for a long time until a vaccine arrives, which is not anytime soon,” the economist who teaches at Massachusetts Institute of Technology (MIT) said.(BBC)…[+]