Nobel Laureate says Bengal' economic recovery hinges on Centre's revival

Nobel laureate economist Abhijit Vinayak Banerjee clearly said on Thursday that unless and until the nation’s economy revives there is no chance for the state’s economy to return to normal state.

Kolkata:To prevent COVID-19 spread both the Union and the state governments were forced to impose lockdown in different phases. The country's economy suffered badly due to lockdowns.

Answering questions from media persons on this issue at the West Bengal secretariat of Nabanna here on Thursday, Nobel laureate economist Abhijit Vinayak Banerjee clearly said that unless and until the nation’s economy revives there is no chance for the state’s economy to return to normal condition. “West Bengal’s economy is dependent on migrant workers who go to other states to earn their livelihood. In such a situation, first the overall economy of the country will have to improve and only then West Bengal can hope for its own economic revival,” he said.

West Bengal chief minister Mamata Banerjee constituted a Global Advisory Committee in view of the pandemic, with Banerjee heading it. On Thursday, she had a meeting with the members of the committee where the Nobel laureate economist was present.

Later, he addressed the media persons along with the chief minister, where he made this comment on the revival of the country’s and the state’s economy. “In the backdrop of the pandemic, the national economy is moving at a slow pace. Previously, the International Monetary Fund predicted a 12 per cent growth in GDP. Now, they are projecting the growth at 9 per cent. But I personally feel that the growth will be between six and seven per cent. That is why West Bengal on its own cannot expect much economic revival unless the national economy improves,” he said.

During the pandemic many have become jobless. Many migrant laborers have returned to their native states. The chief minister claimed that her government has provided job opportunities for the migrant workers who returned to the state. At the same time, she questioned the vaccination policy of the Union government. She also said that West Bengal has received fewer vaccines than states like Uttar Pradesh, Karnataka and Rajasthan, among others.

“I do not mind if other states get additional vaccines. But West Bengal should receive vaccines proportionate to its population. The vaccination centers in West Bengal are so much crowded since we are getting fewer vaccines from the Union government,” the chief minister alleged.

Even the Nobel laureate economist too criticized the vaccine policy of the Union government. “It is quite possible that the Union government does not have enough vaccines and hence there is such a vaccine crisis. I have already advised the Union government to focus on efficient vaccine supply,” he said.