Politics is one controversial affair. All thanks to the politicians partaking in this inflammatory practice. These people either shape or deform the nation, India too has witnessed its share of fair and unjust lawmakers. From uneducated to scholarly, leaders of our nation have varied over the years. One exceptional politician of India was P.V. Narasimha Rao who went on to become 9thPrime Minister of India. He, with his stark wisdom, shaped our country’s demographics and led it to the path of economic growth.
Remembering our former PM Shri PV Narasimha Rao on his birth anniversary. Shri Rao is widely respected as a statesman who provided valuable leadership during a critical period of India’s history. Blessed with immense wisdom, he made a mark as a distinguished scholar as well.
— Narendra Modi (@narendramodi) June 28, 2018
Here, we’ve compiled some lesser known facts about the Father of Economic Reforms of India, P.V. Narasimha Rao. Let’s have a look!
- Hails from a farming background
- Before independence, Rao trained himself as a guerrilla fighter to revolt against the Nizam of Hyderabad–who ordered his soldiers to kill such fighters on sight.
- Narasimha Rao was popularly called “modern day’s Chanakya” for being a visionary and steering in tough economic and political reforms at a time when India was going through one of the severest economic crises.
- He could speak 9 Indian languages (Telugu, Hindi, Oriya, Bengali, Gujarati, Kannada, Sanskrit, Tamil and Urdu) and 8 foreign languages ( English, French, Arabic, Spanish, German, Greek, Latin and Persian).
- The idea of a nuclear test in India was first mooted by Narasimha Rao, though it was implemented by Atal Bihari Vajpayee.
- First South Indian PM. Did wonders for Indian economy which led to increased life expectancy, literacy rates, and food security. An impeccable leader
- Rao played a vital role in the freedom struggle against the Nizam who ruled Hyderabad during the 1940s.
- He along with his cousin edited a Telugu weekly magazine called Kakatiya Patrika from 1948 to 1955.
- A number of ministers across parties, including BJP leader Subramanian Swamy supported Rao’s name for the Bharat Ratna.
- He initiated the ‘look East’ policy. It was during his tenure that India first recognized and revived its links with South-East Asia.
- Narasimha Rao was the first PM of India to lead a minority government for a full term.
- At a human rights conference, where Pakistan was speaking against India regarding Kashmir. Rao sent his friendly foe to defend the nation
- Was an honest politician. Had strong views about dynasty politics. Now, he rests in peace in Hyderabad
MAJOR ECONOMIC POLICIES ADOPTED BY RAO:
- Rao abolished the Controller of Capital Issues which governed capital issues in India
- He introduced the SEBI Act of 1992 and the Security Laws (Amendment) to regulate all security market intermediaries
- He started the National Stock Exchange (NSE) as a computer-based trading system. It emerged as India’s largest exchange by 1996
- He reduced tariffs from an average of 85 per cent to 25 per cent.