Progress made but economic inequality remains: Krugman on India

New Delhi, March 17: Nobel Laureate Paul Krugman on Saturday said India has made rapid progress on the economic front but economic inequality in the country remains an issue.

Krugman said India though has become a much "better place to do business" than it was earlier.

"India achieved as much economic progress in the (last) 30 years as the Great Britain did in 150 years. It is a very rapid space of transformation....why does there still seem to be visible poverty in India?

"One problem is high degree of economic inequality," he said at the News 18 Rising India Summit.

He also said India has made "enormous strides" in economic progress but the wealth has "not been evenly distributed".

He also touched upon the problem of corruption that the country has been facing.

"There are issues of corruption. You can't become Denmark with Chinese levels of corruption," he said.