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Country has not adequately recognised PV: Sanjaya Baru
The country has not adequately recognised the contribution of former Prime Minister PV Narasimha Rao for catapulting India and for playing an important role in shaping the new economic policy, said Sanjaya Baru, who was former Prime Minister Manmohan Singh’s media advisor, at the Hyderabad launch of his new book ‘1991-How PV Narasimha Rao Made History’.
Hyderabad: The country has not adequately recognised the contribution of former Prime Minister PV Narasimha Rao for catapulting India and for playing an important role in shaping the new economic policy, said Sanjaya Baru, who was former Prime Minister Manmohan Singh’s media advisor, at the Hyderabad launch of his new book ‘1991-How PV Narasimha Rao Made History’.
Unlike most book launches where the author reads out passages, on Thursday the highlight of the evening was the debate on the turn of events and the new economic policy, with eminent speakers who included Dr C Rangarajan, Dr CH Hanumantha Rao, economist Parakala Prabhakar, Sriram Karri and on the dais was Sanjaya Baru’s father BPR Vithal.
Stating that the book was confined just to 1991, Sanjaya Baru said that he felt the need to write the book as that year witnessed a multiplicity of events; the country was in a political as well as economic crisis. If 1947 paved the path for Nehruvian India, 1991 shaped post Nehruvian India and the man behind the transformation was PV Narasimha Rao and not just economists, said the author.
Concurring with the view, Chief Guest Dr C Rangarajan said that contrary to certain sections of society believing that the economic reforms had started in the eighties it was in 1991 that the real break took place. He further added that the reforms in the eighties were just incremental in nature.
“Then Prime Minister Chandrashekar would not have gone full throttle as PV Narasimha Rao did,” Rangarajan said, adding “knocking off fiscal controls and reducing import duty was never done before and the credit for a major shift was the brainchild of Narasimha Rao.”
Sanjaya Baru said, “it was PV Narasimha Rao who, along with Cabinet Secretary Naresh Chandra, drafted the address to the nation that the Prime Minister delivered on June 22, 1991, and who would have thought of a professional economist for the Finance Minister’s post.”
“If there was a man who touched every aspect of life be it the politics of that time, commanding heights of economy that India was so entrenched into and departing from the old Nehruvian foreign policy, it was PV Narasimha Rao and today if one talks about double digit growth and India turning into a global super power, the credit should go to PV Narasimha Rao,” Parakala Prabhakar concluded.
