Former Reserve Bank of India (RBI) Governor Raghuram Rajan’s name has emerged in this year’s list of probables for Noble Prize in economics released by Clarivate Analytics. The name of the winner will be announced on Monday in Stockholm, Sweden. Clarivate Analytics, which was earlier a Thomson Reuters unit, publishes a list of Nobel Prize probables on the basis of research citations ahead of the formal announcement of the prize.
The 54-year-old Indian economist succeeded Duvvuri Subbarao as 23rd Governor of India in 2013 and served a three-year term. He has received many awards for his contribution to the field of economics including the inaugural Fischer Black Prize in 2003, Infosys Prize & Deutsche Bank Prize in Financial Economics among others
Rajan has been a vocal critic of NDA government’s demonetisation move and said he had warned the govt of its implications when he held the Governor’s post. “Although there may be long-term benefits, I felt the likely short-term economic costs would outweigh them, and felt there were potentially better alternatives to achieve the main goals,” he wrote in his book I Do What I Do. “I made these views known in no uncertain terms,” he added.
The Indian govt banned high denomination notes of Rs 1,000 and Rs 500 notes in November last year to drive out black money, a move which is said to be behind the economic slowdown in the country. Raghuram Rajan is a graduate from Indian Institute of Technology, Delhi and has been a visting professor at Kellogg School of Management, Stockholm School of Economics and MIT Sloan School of Management. As per Clarivate’s website, 45 of the selected researchers have won Nobel Prize in last 15 years. Out of which, nine people won it the same year in which Clarivate tipped them.