Nobel Prize winners for India got an addition when Abhijeet Banerjee won this along with his wife ESTHER DUFLO and MICHAEL KREMER for their collective research and methods developed for alleviating Global poverty . I fond this topic not just a simple ordinary one ; instead I think everyone should learn about their Works as they are so very relatable with our Lives .

Before discussing his Idea let us have a brief look over his Life . He comes from an Economic background with both his parents being Professors of Economics . Initially he was more fond of Maths and even qualified for INDIAN STATISTICAL INSTITUTE (ISI) but INTERESTINGLY he opted out of it and came into Economics at PRESIDENCY as he was not able to make time for his HOBBIES (Sports , Music) . After Graduation he qualified both DSE and JNU but opted the latter because of the tough environment there .

After the completion of Masters Abhijeet went to HARVARD for Phd and is a Professor in MIT . Michael Kremer the other Nobel recipient is Phd from Harvard as well while Esther Duflo has done the Phd from MIT . All three are from similar institutions but also they all having common interest in DEVELOPMENT ECONOMICS brought them together and work as a group .

Development Economics refers to that branch of Economics which helps in fastening the pace of development in DEVELOPING nations . Economics students usually find it very boring including Me but it is one of the most important fields as it’s the one related with Policymaking . This stream helps in framing policies and evaluating it’s feasibility and ability to help out in the situation . So , whether you are from Economics stream or not you are connected to it in some way or the other . Abhijeet has even written some books in this subject with POOR ECONOMICS which he wrote along with ESTHER is a Masterpiece .

In this branch there are two beliefs . First one supports Subsidies for needy and Incentives for any good deed as they think they should be given some assured benefits while Second one is against it and thinks that it makes people lazy and dependant . All the 3 Nobel recipients are in the first category . What are the subsidies and benefits they are supporting is what we will discuss from here . First understand the fact that whatever technique they have developed are based on the Field study undertaken for closely understanding the consumption , behavioural and lifestyle pattern of the people which are based on Experiments conducted in various developing countries .

ABDUL LATIF J-PAL (JAMAAL – POVERTY ACTION LAB) the research institute of MIT set up by ABHIJEET and ESTHER with the help of CENDHIL MULAIYYANATHAN has been behind most of the experiments and field works . These economists collaborate with a state government and conduct the experiments with a small sample and compare the result with those not a part of the sample . Their experiments and results have helped in various spheres and many governments have adopted it . Behind their EVIDENCE based programme there is a complete team and Abhijeet himself said that this Award belongs to the whole team .

The areas and experiments of their Research are as follows :

I : EDUCATION :

Experiments related to improving Education has suggested three methods :

1. Class Size was reduced
2. Students of same background were kept in one Class
3. Students were provided with remedial or extra classes on important and difficult subjects .

The best result came out in the 3rd category . It stressed the fact that just managing the strength of class and quality of peers won’t help much . Instead if teacher’s start giving Individual attention to children it will be most helpful .

• But , here only arose another problem that how will we measure that the teacher is applying full effort or not . For that students from each class underwent Tests to evaluate performance .
• The research brought forward an Idea that if teachers are hired on the basis of performance based incentive ; ie , pay-cuts for absenteeism and bad performance and bonus for good performance and per day attended .
• Not only Absenteeism reduced significantly but the students performance was much better than those taught by fixed salary teachers . So it gave the lesson that contract and incentive based teachers should be preferred .

II : HEALTH :

While experimenting in this sector it was found that until and unless there is some Incentive associated with taking some Health benefits (Ex-polio drops) , no one gives a DAMN .

• In the experiments it was seen almost no one showed up for the benefits but when some incentives were associated not all but quite high no. of people did showed up .
• In one experiment that if free PULSES (Or any other Food Items) are distributed to those coming for POLIO DROPS then not only more people showed up but also the cost will come out less as reduction in Travelling Costs overweighs increase in cost due to Pulses .
• In other experiments they reached conclusion that crucial medical aids should be distributed in schools only . Taking this idea from one of their experiment WHO made the policy to distribute free Medicines among 80 Crore school children across the globe .

III : BEHAVIORAL BIASES :

In this area they have researched on how the Not so well off sections of society be helped in making correct decisions .

• Since , purchasing Fertilizers associates some fixed cost , farmers easily don’t go for purchasing it which affects their harvest .
• So it was suggested that if some subsidy is given , i.e., farmers have some cash in hand they definitely go for purchasing it . Free delivery and 50% subsidy saw the best results .
• Also , if some limited time and small discounts are provided , the results are good . This limited time makes them go for purchasing it for sure as compared if discount is for longer .

IV GENDER AND POLITICS :

The experiments conducted in this regard suggested that :

• Higher representation of women in decision making fronts does help much better in framing policies benefitting all .
• Women are able to make decisions that accorded more with woman needs such as Water , road facilities .
• Increasing women representation in policy making will help in the Real Development of the society .

V. CREDIT :

They experimented that how will it help if Credit is provided to poor people .

• People seeking loans from informal sector declined and those from Microcredit increased .
• But overall lending remained almost same . Also per capita consumption and spending pattern didn’t saw any affect .
• Basically , it didn’t show much impact whether in new investments nor in businesses .

According to one of their field studies in ORISSA it was seen that Smokeless Stoves are ineffective in curbing pollution as people stop using it after a while .

As per one of it’s idea , government brought a Pilot Scheme “PAANI BACHAO PAISA KAMAO” where Farmers were being rewarded with Cashbacks for conserving Water . As a result drastic conservation of both Water and Electricity as Pumps and they also got cashbacks from Electricity department .

It should also be our concern to know the opinion of Nobel recipients on Indian Economy . According to Abhijeet who has been a College Mate of our finance minister NIRMALA SITHARAMAN , the Recession is caused completely by mismanagement of Modi Government and is not Cyclical . DEMONETISATION and GST are the prime reasons . For getting Economy back on track Abhijeet gave the suggestions .

• Those who are leading our Economy right now lack knowledge of Economics and are just Pet Puppets of government .
• Don’t manipulate with the economic data as have been the habit of this government .
• A scheme should be implemented only after Pilot survey and not just in a haphazard way for political motive .

Here I would like to present one more startling fact , the NYAY (NYUNTAM AAY YOJANA) scheme which Congress used as it’s main Election agenda (6000/month for people below 12000 monthly income) was designed by none other than ABHIJEET BANNERJEE . It shows that the scheme was not as bad as it was thought . I also believed this was a good scheme but our GODI Media presented it terribly leading to it being completely rejected by the public .

But , it’s not the case that Abhijeet criticises all the schemes of Modi Government . He highly praises PRADHAN MANTRI GRAM SADAK YOJANA (PMGSY) as it connects villages with cities and facilitates transfer of commodities . He also is very of PRADHAN MANTRI KISAN SAMMAN NIDHI (6000/ year to all farmers) as it gives some assured income to Farmers ; instead he thinks the amount should be increased .

One startling fact which very few people know is that Abhijeet has also been to Jail that too TIHAR . Students were protesting against a government idea of scrapping extra points for students coming from backward background as it wll kill the essence of JNU . This protest got Violent in Vice chancellor’s office and despite Abhijeet not being part of any union stood for his university .

One notable point is that ABHIJEET is a JNU Laurette . Yes … JNU the Anti-National University of India , University which is given bad attributes, just on the basis of some Videos which are under surveillance , University which is threatened to taught Patriotism using TANKS led by AMIT SHAH . It is a lesson for all those DUMBHEADS that before defaming someone have a look into the Mirror about your own credibility .

One thing which made me very sad and angry was the attitude of BJP politicians and BHAKTS . Just because of Abhijeet being Critic they all are calling him LEFT LEANING and are questioning his credibility . So now your opinion on Modi will define your credibility . Other cheap arguments are that he has won Nobel only because he married a Foreigner . Come on …. FOOLS , our country has won a Nobel prize , the whole world is praising us and you are still busy in playing BJP BJP . It’s only this SELF-RIGHTEOUS and HEEDLESS attitude of our government that our economy is in such a Turmoil .

Though it was very nice of our prime minister to meet him warmly despite difference of opinions and also tweet citing other winners as well which ESTHER DUFLO also appreciated as French President EMMANUEL MACRON only tweeted her name showing lack of spirit . (ESTHER is of French origin)

Whatever be the debates keeping them apart ; Abhijeet and Team has won Nobel Prize for a very Nobel deed which in my opinion should be a Learning Curve for all of us . The results discovered by them should be implemented on large scale and more and more such experiments should be facilitated by the government in various parts of the country . These kind of individualistic approach is very highly needed to solve the problems at the grassroot level and help our country to grow in real terms .

JAI HIND

ARUNESH SINHA