Esther Duflo

On Tuesday, Abhijit Banerjee became only the second Indian to receive Nobel Prize in Economics.

Pyush Goyal commented in a dismissive fashion after it was announced that the Sveriges Riksbank Prize in economics set up in memory of Alfred Nobel was awarded to Esther Duflo, husband Abhjit Banerjee, and Michael Kremer.

The number of poor in India has been slashed, says Duflo. 'But that does not mean we should be happy. That is not enough,' she says.

While Sourav Ganguly is regarded as one of the greatest Indian captains, Abhijit Banerjee and Esther Duflo are the world's most-feted economist couple for the last two decades, fighting poverty

'Ideas are powerful. Ideas drive change. Good economics alone cannot save us. But without it, we are doomed to repeat the mistakes of yesterday.'