Paying tributes to the late P V Narasimha Rao, Vice President M Venkaiah Naidu on Sunday said bold economic reforms initiated by the former prime minister have helped accelerate the country’s development.
Describing him as a multi-faceted personality, Naidu said Rao was a great scholar, litterateur and multi-linguist. He, however, did not get due recognition, Naidu said, according to an official statement.
Releasing a Telugu book titled “Viplava Tapasvi: PV” written by journalist A Krishna Rao in Hyderabad, Naidu said the country was facing severe economic crisis and political uncertainty when Rao took over as the prime minister.
Rao, however, exceeded the expectations of many political pundits and effectively steered the country through many challenges during his tenure, Naidu said, according to the statement. Rao was the prime minister between June 1991 and May 1996. Born on June 28 1921, Rao passed away on December 23, 2004.
Naidu said Rao was an astute administrator. “Although, one may not agree with some of the policies implemented by him, some of the broader initiatives taken by him were in the larger interest of the country. He facilitated the entry of India into World Trade Organisation,” the statement said, quoting Naidu.
The vice president said Narasimha Rao, among others, removed license raj, took up banking reforms, electricity privatisation, telecom modernisation and took steps for boosting exports and attracting foreign investment. He also launched reforms in the agriculture sector and removed restrictions on transportation of food grains, the vice president observed.