1991, a landmark year in reforms

1991, a landmark year in reforms
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The year 1991, in which Congress leader PV Narasimha Rao assumed the charge as the Prime Minister of India, was a landmark year in the country’s history, stated Sanjaya Baru, the Secretary General of Federation of Indian Chambers and Commerce of Industry (FICCI).

Hanamkonda: The year 1991, in which Congress leader PV Narasimha Rao assumed the charge as the Prime Minister of India, was a landmark year in the country’s history, stated Sanjaya Baru, the Secretary General of Federation of Indian Chambers and Commerce of Industry (FICCI).

He delivered the seventh endowment lecture in the memory of late PV Narasimha Rao on ‘1991: How PV Narasimha Rao made history” at Kakatiya University in Hanamkonda on Friday. PV’s elevation as party president to lead a full-term coalition government was a turning point in Indian politics.

Soon after forming the government at the centre, PV Narasimha Rao faced many challenges. The global environment was in a flux, end of Cold War, implosion of Soviet Union altered Indian foreign policy, China’s emergence as dynamic economy and others have impacted India.

Yet, PV’s ingenuity rescued India as he dealt with those challenges and also managed most difficult balance of payments and fiscal crisis with long-term vision. Hence several analysts marked 1991 as historic year that drove out bad politics and bad economic policies.

Nonetheless, PV was not given due recognition, which he was entitled for his valuable services to the nation as the PM. Very few in the county were aware of the positive impact he left on Indian economy and other policy matter, Baru pointed out.

Narasimha Rao government, which lasted full term, was a testimony of his success as a consensual leader. While PV’s economic and foreign policies marked departure from Jawaharlal Nehru’s, his style of functioning was very Nehruvian.

PV dismantled the licence-permit raj within a month of taking the charge as PM and believed that Indian enterprise would bloom if liberated from the straitjacket of bureaucratic socialism. He was the only PM, who had the courage to honour a business leader JRD Tata with the nation’s highest honour Bharat Ratna, Baru said.

A book titled ‘Golla Ramavva –Mari Konni Rachanalu’ written by PV Narasimha Rao was released by the guests. Rajya Sabha member V Lakshmikantha Rao, Kakatiya University Vice-Chancellor Prof R Sayanna, Registrar Prof K Purushotham, Prof S Srinath, Surabhi Educational Society secretary and PV’s family members S Vani Dayakar Rao, PV Prabhakar Rao, PV Madanmohan, Kaloji Foundation president N Rama Sastry and others were present.

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