Indian economist Kaushik Basu has been awarded the Humboldt Research Award for Economics. The award was conferred on him by Professor Dr Hans-Bernd Schäfer of Bucerius Law School in Hamburg, Germany.
A former chief economist of the World Bank, Basu is currently a professor of Economics at Cornell University. He also served as the Government of India’s chief economic advisor from 2009 to 2012. Basu is also a recipient of the Padma Bhushan, the third-highest civilian award in India.
In March of this year, Basu had held a virtual interaction with Rahul Gandhi where the two discussed a number of issues ranging from smart cities to unemployment in India.
The prestigious award is sponsored by the Alexander von Humboldt Foundation and awarded to as many as 100 recipients each year. The Humboldt Research Award honours scientists and economists from across the world for their work. The award entails prize money of 60,000 euros and an offer to carry out research projects at a scientific institution in Germany for up to 12 months.
A graduate of the London School of Economics, Kaushik Basu is also the sitting president of the International Economic Association.
Basu has written a number of papers, including, “Introduction: The State of Economics, the State of the World”, “Inequality, Growth, Poverty and Lunar Eclipses: Policy and Arithmetic” and “Individual Preferences and Democratic Processes: Two Theorems with Implications for Electoral Politics”.