![]() ![]() With Rao's mandate, Manmohan Singh launched India's globalisation angle of the reforms that implemented the International Monetary Fund (IMF) policies to rescue the almost bankrupt nation from economic collapse. In 1991, Rao employed Manmohan Singh as his finance minister to embark on historic economic transition. įormer Prime Minister Manmohan Singh described Rao as the true father of economic reforms in India. Rao, who held the Industries portfolio, was personally responsible for the dismantling of the Licence Raj, as this came under the purview of the Ministry of Commerce and Industry, reversing the economic policies of Rajiv Gandhi's government. He led an important administration, overseeing a major economic transformation and several home incidents affecting national security of India. ![]() His ascendancy to the prime ministership was politically significant because he was the second holder of this office from a non-Hindi-speaking region and the first from South India ( United Andhra Pradesh). ![]() He is known for introducing various liberal reforms to India's economy. ![]() Narasimha Rao, was an Indian lawyer, statesman and politician who served as the 9th prime minister of India from 1991 to 1996. Pamulaparthi Venkata Narasimha Rao (28 June 1921 – 23 December 2004), popularly known as P. Laknepalli, Hyderabad State, British India 4th Chief Minister of United Andhra Pradesh ![]()
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