Nobel laureate and economist Abhijit Banerjee on Sunday said the slowdown in the economy, which had posed a serious challenge to the country, might adversely impact poverty alleviation because the urban and rural sectors depended on each other for creation of jobs and availability of low-skilled workers. “There is no early end to the economic slowdown that has gripped India,” he said. Laying emphasis on a multi-pronged approach for poverty alleviation, Dr. Banerjee said it required “many silver pallets rather than a single silver bullet” to deal with the issue. You have to figure out what is missing.”Dr. Banerjee said the subsidies were important for the poor and should not be done away with. There is no dearth of talent here [in India] but bringing together people on a large scale changes it...

Source: The Hindu January 26, 2020 21:41 UTC