Nobel laureate Abhijit Banerjee addressed a session at Jaipur Literature Festival. He talked about current situation of economy and poverty in India. He said, "Last 30 years have had a huge reduction in poverty in India. Poverty was 40 per cent in 1990, and now, it is less than 20 per cent. Since the population has grown, it is an enormous reduction in the number of poor people." He further added, "We have been witnessing some good indicators for the Indian economy for the last two months. But I cannot say how long will they last as fresh data are coming in."