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Daily Current Affairs – 2020
Topic: For Prelims and Mains
Abhijit Banerjee, Duflo and Kremer win Nobel in Economics
15th October 2019
Why in news?
Indian-American Abhijit Banerjee with his Wife Esther Duflo and Michael Kremer won Nobel For Economics for the year 2019.
The award recognized their experimental approach to alleviating global poverty. The new experiment-based approach has transformed development economics in a flourishing field of research.
Banerjee was educated at the University of Calcutta, Jawaharlal Nehru University, and Harvard University, where he received his Ph.D. in 1988. He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, according to his profile on the MIT website.
The research conducted by this year’s laureates has considerably improved the ability to fight global poverty. In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research.
In 2003, Abhijit Banerjee founded the Abdul Latif Jameel Poverty Action Lab (J-PAL), along with Duflo and Sendhil Mullainathan, and he remains one of the lab’s directors. He also served on the UN Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda.
Facts for Prelims
SARAS Aajeevika Mela:
It is an initiative under Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY – NRLM).
The objective of the initiative is to bring the rural women SHGs – Self Help Groups under one platform.
Significance: This is to help them show – case their skills, sell their products and build linkages with buyers. Through the initiative the women will get exposure to understand the demand of urban customers.