Indian-American economists Abhijeet Banerjee, Ishtar Duffalo and Michael Kramer have been jointly awarded the Nobel Prize in Economics this year.

All three have been awarded this honor for experimenting to overcome poverty around the world. It is believed that this approach was the most important contribution during the last two decades. Worldwide, the population of the poor is believed to be around 700 million.

On a study by Abhijeet Banerjee, the system of schooling of children with disabilities was improved in India, in which nearly 5 million children have benefited.

The three people also include Abhijeet Banerjee's partner Ishtar Duffalo, the youngest woman to win the Nobel in economics. She is just the second woman to win the Nobel in economics.

After the award was announced, Ishtar Duffalo said in the press conference, "Seeing that women can be successful, many women will be inspired and many men will be able to honor women."

Abhijeet Banerjee completed his MA from Jawaharlal Nehru University in 1983 after completing his BSc from Kolkata University in 1981. In 1988, he completed his PhD from Harvard University.

Prime Minister of India Narendra Modi has also congratulated him on the award of Nobel Prize to Abhijeet Banerjee. Modi has tweeted and said, "Abhijeet Banerjee has made a significant contribution in the field of poverty alleviation".

It is also being said about him that he had prepared the outline of Rahul Gandhi's justice plan. This has also been confirmed by Rahul Gandhi himself, he has tweeted that Abhijeet had prepared the justice plan which has the potential to destroy poverty and bring the Indian economy back on track.

Discussions have started on social media about his JNU connection.

Ramachandra Guha tweeted, "I am happy with the news of Abhijeet Banerjee and Ishtar Duffalo getting Nobel. They deserve it. Abhijeet is a proud graduate of a much maligned university. His work will impress many young Indian scholars. ''

West Bengal Chief Minister Mamata Banerjee has also congratulated Abhijeet Banerjee.

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