Who is Abhijit Banerjee? Why he got Nobel Prize in Economics? What he did? All you need to know

Indian-origin economist Abhijit Banerjee has bagged the coveted Nobel Prize in Economics for the year 2019. Here is all you need to know about Abhijit Banerjee and why he got Nobel Prize in Economics:-

- Abhijit Banerjee was born in 1961

- He was born in Mumbai

- He holds Ph.D. from Harvard University

- He is Professor of Economics at the Massachusetts Institute of Technology (MIT), USA

Why he got Nobel Prize in Economics for the year 2019?

Abhijit Banerjee won the 2019 Nobel Economics Prize for creating an experimental approach to alleviating global poverty.

This is the second time that a person linked to India has won the Nobel Memorial Prize in Economic Sciences. The first one to get this prize was Amartya Sen. He received it in 1998. This was for his theory on welfare economics, whose purpose is to gauge economic policies impact on society.

The 9 million Swedish crown ($915,300) economics prize is a later addition to the five awards created in the will of industrialist and dynamite inventor Alfred Nobel, established by the Swedish central bank and first awarded in 1969.

Economists Abhijit Banerjee, Esther Duflo and Michael Kremer won the 2019 Nobel Economics Prize for creating an experimental approach to alleviating global poverty, the Royal Swedish Academy of Sciences said on Monday.