20 Things you should Know about P.V.Narasimha Rao Garu.
1. He is the 10th Prime Minister of India and 4th Chief Minister of United Andhra Pradesh.
2. The 1st ever Prime minister from South India.
3. Often credited as Father of Indian Economic Reforms and referred to as Chanakya of modern India.
4. Introducer of First generation economic reforms in India.
5. Polyglot who spoke 17 languages.
6. Won unanimously as MP when contesting as PM.
NTR supported him and didn’t put a contestant against him as a Telugu Man would become PM.
7. Dismantled the License Raj.
8. Under his governance The rupee was made convertible on trade account.
9. He Encouraged foreign direct investments in India by increasing the maximum limit on share of foreign capital in joint ventures from 40 to 51% with 100% foreign equity permitted in priority sectors.
10. He started the 1994 National Stock Exchange as a computer-based trading system which served as an instrument to leverage reforms of India’s other stock exchanges. The NSE emerged as India’s largest exchange by 1996.
11. With Rao’s mandate, Dr. 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.
12. In 1992 he welcomed foreign institutional investors into India’s equity market which helped in India recovering its financial fall by raising capital on international markets.
13. Energised the national nuclear security and ballistic missiles program, which ultimately resulted in the 1998 Pokhran nuclear tests.
14. He increased military spending, and set the Indian Army on course to fight the emerging threat of terrorism and insurgencies, as well as Pakistan and China’s nuclear potentials.
15. It was during his term that terrorism in the Indian state of Punjab was finally defeated.
16. His governance was so strong that all the scenarios of aircraft hijackings which occurred during Rao’s time ended without the government surrendering to the terrorists’ demands.
17. Launched the Look East foreign policy, which brought India closer to the Association of Southeast Asian Nations.
18. Rao’s crisis management after the 12 March 1993 Bombay bombings was highly praised.
19. Future prime ministers Atal Bihari Vajpayee and Manmohan Singh continued the economic reform policies pioneered by Rao’s government and achieved success.
20. The only Telugu Man who has been the Prime Minister of India.
P.V.Narsimha Rao is one of the Most Respected Prime Ministers of India who saved India from going into an Economic Crisis. His reform based governance was admired and followed by PM Atal BihariVajypayee, Narendra Modi as CM and PM and Chandrababu Naidu as Chief Minister. Subaramanian Swamy, Chandrababu Naidu and many others have requested the Govt of India to honor PV garu with Bharat Ratna.
With or without that being honored he is a true “Bharat Ratna“.