Vice-President Venkaiah Naidu pays rich tributes to former PM PV Narasimha Rao

The country was facing a severe economic crisis and political uncertainty when Narasimha Rao took over as the Prime Minister. Rao, however, exceeded the expectations of many political pundits and effectively steered the country through many challenges during his tenure

Hyderabad: Vice-President M Venkaiah Naidu on Sunday paid rich tributes to former Prime Minister P V Narasimha Rao and said the bold economic reforms initiated by him have helped in accelerating the country's development.

Releasing a Telugu book titled 'Viplava Tapasvi: PV' written by senior journalist A Krishna Rao, the Vice President said the country was facing severe economic crisis and political uncertainty when Narasimha Rao took over as the Prime Minister. Rao had, however, exceeded the expectations of many political pundits and effectively steered the country through many challenges during his tenure, he added.

Naidu observed that PV was an astute administrator. Although, one may not agree with some of the policies implemented by him, some of the broader initiatives taken by were in the larger interest of the country. He facilitated the entry of India into the World Trade Organisation. Rao, among others, removed license raj, took up banking reforms, electricity privatisation, telecom modernization and took steps for boosting exports and attracting foreign investment. He also launched reforms in the agriculture sector and removed restrictions on transportation of foodgrains.

Naidu recalled that the former Prime Minister also empowered the local bodies through the 73rd and the 74th Constitutional amendments. Describing the former Prime Minister as a multi-faceted personality, he said Rao was a great scholar, litterateur and multi-linguist. He however, did not get due recognition, he added.

Appreciating Krishna Rao for coming out with the book on Narasimha Rao, he urged the youth to read such books. He said books and memorial lectures about great men and women were meant to inspire others. Rajya Sabha MP, K Keshava Rao, Krishna Rao and Publisher, Raghavendra Rao were present.