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PM Modi pays tribute to Narasimha Rao, hails his leadership and legacy
Rao's 1991-96 tenure marked a turning point as he tackled a balance of payments crisis by ending state controls and opening India's economy to private players, reshaping its growth path
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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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