Former PM PV Narasimha Rao and Dr Manmohan Singh credited with economic liberalization
New Delhi:
Congress leader Sonia Gandhi and her son Rahul Gandhi wrote letters of congratulations to the party’s Telangana unit for hosting a year-long celebration on the centenary of the birth of former Prime Minister PV Narasimha Rao, born in Andhra Pradesh decades before the founding of Telangana.
The Gandhi letters are important because Mr. Rao was known to have had icy ties with the Gandhi for most of the 1990s, from the time he became Prime Minister in 1991 – he was the first ruler outside of the Nehru- The Gandhi family will last a full term as Prime Minister.
“After a long career in state and national politics, he became Prime Minister of India at a time of severe economic crisis. Thanks to its bold leadership, our country has been able to overcome many challenges successfully. The Union budget of July 24, 1991 paved the way for the economic transformation of our country, ”Sonia Gandhi said in the letter.
Mr. Rao and Dr. Manmohan Singh, who was Minister of Finance in 1991, boosted India’s economy with cuts in import duties, fewer taxes, more foreign investment and other measures that eventually led to the liberalization of the economy, the results of which were observed towards the end of the millennium. when the country’s growth exploded.
However, Mr. Rao’s political career during his tenure as prime minister which lasted until 1996 was not entirely smooth with the Congress Party. Critics have said the divisions within the party that led to the defeat of Congress in the 1996 general election were attributed to Mr. Rao.
The demolition of the Babri Masjid in Ayodhya, Uttar Pradesh by right-wing groups in December 1992 also took place when Mr. Rao was Prime Minister. His detractors have pointed out in retrospect that Mr. Rao could have made decisions to end the cataclysmic incident in Indian politics.
Mr. Rao’s grandson NV Subhash, who works with the BJP in Telangana, has often accused the Gandhi of giving in and undermining Mr. Rao’s legacy. “After the 1996 congressional debacle, he (Mr. Rao) was sidelined due to numerous issues, which were not affected by his government policy. The Congress Party believed that if anyone outside of the Gandhi-Nehru family continues, he will not be noticed and he was therefore dismissed, ”Mr. Subhash told the ANI news agency in June. last year.
The 1996 national elections led to a suspended parliament and Congress was held responsible for Mr. Rao’s poor performance. Congress has been decimated in several of its strongholds in Uttar Pradesh.
Under the direction of the former PM #PVNarasimhaRao & then Finance Minister Manmohan Singh of India ushered in an era of reforms to take our economy and society to new heights. Since then we have seen booming growth in GDP as well as in people’s standard of living. pic.twitter.com/ZsMrxY3Ary
– Congress (@INCIndia) July 24, 2020
“On this day (July 24), India embarked on a bold new path of economic transformation. Shri PV Narasimha Rao and Dr Manmohan Singh played a central role in ushering in the era of liberalization. I hope this event will rekindle the interest of our young people to learn more about the history of India’s growth and the remarkable people who made it possible, ”Mr. Gandhi said in his letter today. ‘hui.
Mr. Rao died at the age of 83 in 2004.
