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PV Narasimha Rao

Focus: Facts for prelims

Why in News?

The Prime Minister has paid tribute to former Prime Minister, Shri PV Narasimha Rao Ji on his 101th birth anniversary.

About PV Narasimha Rao:

  • PV Narasimha Rao was born on 28th June 1921 in erstwhile Nizam’s Hyderabad state.
  • He was a freedom fighter, academician, and literary figure.
  • His term as the Prime Minister of India was 1991-1996.
  • He was born to a farmer’s family in Lanepalli (Telangana’s Warangal District.)
  • He was a pioneer of all rural economies and rural welfare.
  • The sectors where he made initiatives to bring development are (but not limited to):
    • Clean Water
    •  Development of Women and Children in Rural Areas
    • Primary health care
    • Primary Education sector
    • Empowerment of Artisans
    • Animal Husbandry and Poultry
    • Small Industries
    • Khadi and Village Industries
    • Textiles, etc.
  • He is also called as the pioneer of inclusive growth.
During his Tenure:
  • The fund to implement schemes for rural development was increased to Rs.30000 crores in the 8th Five Year Plan, from Rs. 7000 crore in Seventh Five Year Plan.
  • The foreign exchange had increased 15 fold in 1996. It was Rs. 3000 crores in 1991.
  • With his economic reforms, the GDP hovered around 7-7.5 percent.
  • He published ‘SahasraPhan’, a Hindi translation of the famous Telugu Novel ‘Veyi Padagalu’.
  • He sought to dismantle the restrictions imposed under the license raj, reduce red tape and make Indian industries more competitive. 
  • He is known for bringing the policy of economic liberalisation in India.
  • The economic liberalisation in India is referred to the liberalisation of the country’s economic policies.
  • It was initiated in 1991 with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment.
  • In terms of foreign policy, he established diplomatic relations with Israel.
  • The Look East Policy of India was also initiated during his tenure.
  • He is also known for reversing decades of unfriendly relations between India and the United States by bringing them together.
  • The 73rd and 74th Constitutional Amendments Act empowering local bodies were enacted during his tenure.

February 2024