India grateful to former prime minister P V Narasimha Rao for effective leadership in crucial phase: PM Modi
Prime Minister
Narendra Modi
on Saturday paid tributes to former prime minister
P V Narasimha Rao
on his birth anniversary, saying India is grateful to him for his "effective leadership" during a crucial phase of its development trajectory.
His intellect, wisdom and scholarly nature are also widely admired,
PM Modi
said on X.
Rao's premiership during 1991-96 is considered the most defining period in the country's economic journey as, with India facing a serious
balance of payment crisis
, he unshackled the state control on economy and opened it to private players. This paved the way for a long era of growth better than what was seen in the past.
He was given the country's highest civilian honour,
Bharat Ratna
, posthumously by the Modi government last year.
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