World economy to improve within a year: Amartya Sen

GAYA: Nobel laureate Amartya Sen on Thursday predicted the gloomy economic scenario in the world to improve in the next one year.

Sen, who is a key member of the mentor group of the proposed Nalanda International University, expressed confidence that the crisis would mitigate in the next one year, provided the developed countries had not taken any 'foolish step'.

The economic meltdown had occurred because of financial mismanagement and lack of regulations by the developed countries, Sen told reporters here before attending a meeting of the core group constituted to make recommendations to the Centre for setting up the university with international support.

Several key members of the mentor group of the international university, Singapore foreign minister George Yeo, advisor to former president APJ Abdul Kalam, Lord Meghnad Desai and others attended the meeting at Bodh Gaya.

The Bihar government has already acquired 475 acres of land adjacent to the ruins of the Nalanda university and the process for acquiring another 500 acres of land was on, Anjani Singh, state HRD principal secretary said.