Kolkata, Jun 28 : West Bengal Chief Minister Mamata Banerjee on Friday paid tribute
to former Prime Minister PV Narasimha Rao on his birth anniversary.“Tribute to PV Narasimha Rao, former prime minister of India, on his birth anniversary,”Ms Banerjee posted on her social networking page.Born on this day in 1921, Narasimha Rao was an Indian lawyer and politician who served as the 9th Prime Minister of India from 1991 to 1996. His ascendancy to the prime ministership was politically significant in that he was the second holder of this office from a non-Hindi-speaking region and 1st belonging to the southern part of India.
He led an important administration, overseeing a major economic transformation and
several home incidents affecting national security of India.Rao, who held the Industries portfolio, was personally responsible for the dismantling of the Licence Raj, as this came under the purview of the Ministry of Commerce and Industry.He is often referred to as the "Father of Indian Economic Reforms". Rao accelerated the dismantling of the License Raj, reversing the socialist policies of Rajiv Gandhi's government.
He employed Dr. Manmohan Singh as his Finance Minister to embark on historic
economic transition. With Rao's mandate, Dr. Manmohan Singh launched India's globalisation angle of the reforms that implemented the International Monetary Fund (IMF) policies to rescue the almost bankrupt nation from economic collapse.
Rao was also referred to as Chanakya for his ability to steer economic and political
legislation through the parliament at a time when he headed a minority government.
Rao died on December 23, 2004 of a heart attack in New Delhi.