PV Narsimha Rao Remembered As Leader with Great Economic Vision

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On Sunday, Twitter paid glowing tributes to former Prime Minister PV Narasimha Rao on his birth anniversary. The late Prime Minister Narsimha Rao is also remembered for his pioneering role in initiating economic reforms at a critical juncture when the Indian economy was on the brink of collapse.

Naidu referred to the measures initiated by Rao to liberalise the economy. “He sought to dismantle the restrictions imposed under the license raj, reduce red tape and make Indian industries more competitive,” the Vice President recalled.

Observing that the former Prime Minister had laid the foundation for trade liberalisation and the re-integration of the Indian economy with the global economy, especially East Asian economies, the Vice President said: “This was a major shift from the inward orientation of the previous regimes to a new trajectory of globally integrated development”.

He was a reformer and wanted India to learn from what was happening elsewhere in the world. He wanted the crisis to be turned into an opportunity, Naidu said.

SMEStreet also remembers this great visionary leader for his works and strategic decisions of Economic reforms in early 1990s which have made the real economic transformation in the country.

Several even said that the former PM deserves a Bharat Ratna for his work for the Indian economy.




SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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