Prime Minister Narendra Modi today honored former Prime Minister P.V. Narasimha Rao on his birth anniversary, acknowledging his significant contributions to India. PM Modi stated on X that India is “grateful to him for his effective leadership” during a pivotal period of the nation’s development. He also praised Rao’s “intellect, wisdom, and scholarly nature.”
Rao’s tenure as prime minister from 1991 to 1996 is widely recognized as a transformative era for India’s economy. Facing a severe balance of payments crisis, Rao’s government boldly liberalized the economy, reducing state control and opening it to private enterprise. This move is credited with ushering in a sustained period of economic growth.
Last year, the Modi government posthumously awarded Rao the Bharat Ratna, India’s highest civilian honor.
