The 2019 'Nobel' Win- Indian-American Economist Abhijit Banerjee's Win With Two Others

A proud breaking news India got in 2019 was one of its own winning the Nobel Prize. Abhijit Banerjee, an Indian-American, Esther Duflo, a French-American and Abhijit Banerjee's wife, and Michael Kramer of America have been bestowed with the highly prestigious Nobel Prize in the field of Economics. They were awarded for their exceptional work on alleviating poverty. 

Royal Swedish Academy of Sciences praised the laureates. It stated that they had found groundbreaking as well as reliable ways for eradicating poverty on a global platform. The ETV Bharat News Today has done a comprehensive coverage on this for extensive information of it. Abhijit Banerjee completed his graduation under the University of Calcutta and went on to pursue post-graduation from the Jawaharlal Nehru University. Further, he got his Ph.D. in the year 1988 from Harvard University.

Currently, Abhijit Banerjee is working at the Massachusetts Institute of Technology as the Ford Foundation International Professor of Economics. While he and Duflo work at MIT, Michael Kramer is a professor at Harvard. 

The brilliant trio was awarded the honor for their intricate insight into the causes of poverty and their experimental approach towards alleviating the same. ETV Bharat covered the details of their work and the records they set. Esther Duflo is not only the second woman ever to win a Nobel Prize in Economics but also the youngest woman ever to win it. 

Their pioneering research and findings have induced other researchers to base their work on it. The unique approach as a result of the collective efforts of all the researchers has significantly enhanced the ability of the countries to keep the growing poverty in check. 

As their research was put to the test in practical life, no less than 5 million children became direct beneficiaries of their work. The productive programs and remedial school tutoring has made a profound impact in curbing poverty at the core. A lot of countries have also adopted the provision of healthcare facilities as a practical measure. They also aim at providing enormous subsidies for healthcare. 

The testing of their speculative theory started in the 1990s. They projected how their approach of an experiment could positively impact West Kenya's school results. Later, their work on different issues spread to other countries as well. Soon after, their work spread out among various developing nations. Their work has also influenced the investment strategies and government policies in many countries.

The Nobel Prize degree is accompanied by a gold medal and a cash prize of 9 million kronor (USD 9,17,000) to be divided among the winners equally. Their work has indeed emerged as a boon for the world as a whole. Their view on eradicating poverty helps humanity, irrespective of countries. It is a matter of great pride for not only Indians but people all over the world.

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