BJP's Personal Criticism is Upsetting: Nobel laureate Abhijit Banerjee to Karan Thapar

The BJP's personal criticism is upsetting, this year's Nobel laureate for economics Abhijit Banerjee has told The Wire. In a 47 mt interview to Karan Thapar, Prof Banerjee said the over centralization of power in the PMO was an important cause of the economic crisis facing the country. The others were probably demonetisation and GST. However, Prof Banerjee made a point of saying no other govt would have handled GST better. The problems it created were inevitable. Prof Banerjee also said the corporate tax cuts were unlikely to fuel investment and spur growth unless steps were first taken to stimulate demand. The best way of increasing demand was not income tax cuts but putting money in rural pockets through schemes like PMKisan. Also, the govt must pay its dues and not hold up money to suppliers and delay project payments. He said rural demand had collapsed because the govt had deliberately lowered minimum support prices for crops and depressed agricultural spending to contain urban inflation. This was also a significant cause of the economic slowdown. Professor Banerjee also called for labour reforms permitting hire and fire and land acquisition reforms. Such reforms were only possible in a crisis and, as he put it, the govt must not waste this crisis. Prof Banerjee pointed out that NREGA was not performing as efficiently as we need because the process of kick-starting it was too slow and as a result rural distress has not been ameliorated. He cited studies to show NREGA was not effective in times of drought though that was when it was most needed. Finally, Prof Banerjee spoke of social media which, he said, increases polarisation, spreads false news and promotes intolerance and nastiness. It can have a very adverse impact on democracy and it's a substantial part of the explanation for rising violence against dalits and muslims. He said the required response was faster police action against social media messages that break the law and incite violence but not restrictions on free speech.
#AbhijitBanerjee #KaranThapar

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[sreenathsp]

He doesn't have anything to do with petty political fights, he is way beyond that Level.. He got back to sleep peacefully after hearing the great news.. 👏👏👏

[KRISHNAKUMAR-pghl]

Absolutely brilliant - Straight forward, open, true, clearly stating likes dislikes, professional
This is the kind of people we need to bring the humility, humor and thoughtfulness back into the system.

[mrsaikia]

What a classy conversation between the two gentlemen.

[nivedendupaul]

Wow!! Karan Thappar clearly aced this interview, smoothest conversations. I'm buying the book 100%

[shubzdeshmukh]

Caution : Intellectual conversation. ⚠️

[debanjan]

He appears like a quite humble person. Nonetheless, no need for him to listen to the losers.

[divakarannappa]

"I want to be seen as a professional" - real great men are really humble. I really have become a fan of Prof. Abhijit. He so pragmatic and not opinionated. Thank you very much "The Wire" and thank you Karan for this fine interview.

[shuvayandutta]

The more you educated the more simple you become. That is peaceful.

[sensefirst]

*This is an interview!*
Thanks to the Wire.

[gitanjalic]

Most of Indian politicians won't even understand his words...they are busy in saving cow, religion, etc.. God bless economy

[aashirwadpanigrahy]

I just loved how he said “ I just wished people of India took me that seriously”

[tingneihatkuki]

I enjoyed this interview where you are talking and that too a sensible talk. Not too much of shouting.

[jamocraig]

Now why would any BJP guy worth his salt show any interest in him. He's way too intelligent for their liking, you can almost see them squirm.

[v]

The irony of our country is that a political party seeks votes in the name of Sita's Husband but works for Nita's Husband 😜

[sausamaresh]

This talk is the highest quality not for Indian cheap politicians...

[duttatreyadey]

That's how it sounds when two intelligent people talk..

[bipincse]

Imagine if raghuram rajan wins the nobel next year... Armageddon

[sidakqqq]

Indians really don't deserve such talented, hard working gentleman.
He is a 'Sir'. !

[SayanMukherjee]

"The police are under trained, under funded and even their legal backing is not fully clear." - he makes things look so clear and easily understandable.

[Sk.]

Karan thapar ko dekhta hu tab ek hi moment yaad aata h.
"Dosti bani rahe"😂😂😂