Home / News / India /  Narasimha Rao's bold economic reforms helped in India's development: Naidu

Vice President M Venkaiah Naidu on Sunday paid tributes to former Prime Minister, P V Narasimha Rao and said that the bold economic reforms initiated by him have helped in accelerating the country's development.

Releasing a Telugu book titled "Viplava Tapasvi: PV" written by senior journalist, A Krishna Rao in Hyderabad, the Vice President said India was facing a severe economic crisis and political uncertainty when Rao took over as the Prime Minister.

Rao had, however, exceeded the expectations of many political pundits and effectively steered the country through many challenges during his tenure, Naidu added.

He also said that the former PM was an astute administrator. Although one may not agree with some of the policies implemented by him, some of the broader initiatives taken were in the larger interest of the country. He facilitated the entry of India into the World Trade Organization, Naidu said.

The Vice President said Narasimha Rao, among others, removed license raj, took up banking reforms, electricity privatization, telecom modernization, and took steps for boosting exports and attracting foreign investment. He also launched reforms in the agriculture sector and removed restrictions on the transportation of food grains.

Naidu recalled that the former Prime Minister also empowered the local bodies through the 73rd and 74th Constitutional Amendments. Describing the former Prime Minister as a multi-faceted personality, he said Rao was a great scholar, litterateur, and multi-linguist. He, however, did not get due recognition, he added.

Rajya Sabha MP, K Keshava Rao, Krishna Rao and publisher, Raghavendra Rao were also present.

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