Citing the examples of Covid-19 pandemic and geopolitical uncertainties, noted economist and Indian Statistical Institute (ISI) president Bibek Debroy asked the graduating students to be prepared for uncertainties when they step out of the institute. At the 56th convocation of ISI, he said economists are able to distinguish between risks and uncertainties. In case of uncertainties, probabilities are not known, while in case of risk, probabilities are known, said Debroy, also the chairman of the economic advisory council to the prime minister.
“When India and the world were overcoming an exogenous shock of Covid, we have been confronted with another geopolitical uncertainty. When you step out, the world is more uncertain. So I will say May you want what you gett’ and not May you get what you want’. Because you will not get what you want, Debroy told the students. he apparently meant the Ukraine crisis. In his virtual address, Debroy said he expects the students to overcome the challenges and help make India proud. Dr Gagandeep Kang of Christian Medical College also spoke at the programme.
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