Prime Minister Narendra Modi on Tuesday pays tribute to P V Narasimha Rao, who is popularly known as the “Father of Indian Economic Reform” on his 95th birth anniversary.
Tributes to Shri PV Narasimha Rao on his birth anniversary. He led India at a crucial time & his leadership was both notable & vital.
— Narendra Modi (@narendramodi) June 28, 2016
Narasimha Rao was born on June 28, 1921 at Karimnagar in Telangana and served as the Prime Minister of India from June 21, 1991 to May 16, 1996. P.V. Narasimha Rao died at the age of 83 due to heart attack on 23rd December 2004.
At the time of Rao’s prime minister-ship, India was facing a foreign exchange crisis of such magnitude that we had to deposit 47 tonnes of gold in the Bank of England to tide over the situation. Prime Minister PV Narasimha Rao being received by the Tamil Nadu Chief Minister Jayalalitha.
Rao courageously changed the economic policy to that of liberalisation and globalization. He introduced a series of dramatic economic reforms to liberalize the Indian economy, which had until then remained regulated.
Rao’s administration had for several scams, in some of which members of his family were allegedly involved. It was during Rao’s time the demolition of the Babri Masjid took place and the worst Hindu-Muslim riot took place since Independence.
Rao also faced challenges during his administration as congress party members were not united and had conflict of interest resulting the in the party not backing him during the demolition of the Babri Masjid. Prime Minister PV Narasimha Rao in conversation with mother Teresa.
Rao’s tenure was marked by his alleged failure to prevent the demolition of the Babri Masjid in Ayodhya, forcing Congress chief Sonia Gandhi to distance herself from him.
As it is well known that PM Modi use to criticise former Prime Minister economic policies but today on a day of his birth anniversary, he shows regards and praise his leadership.