p. v. narasimha rao garu, father of indian economic reforms and the chanakya of modern india with his stark wisdom, shaped our country’s demographics and led it to the path of economic growth. here, we’ve compiled some lesser known facts about the father of economic reforms of india, p.v. narasimha rao. let’s have a look!
1) Hailed from an agrarian family in, Telangana. he was born on 28 june 1921 in laknepalli village, warangal district in telangana state.
2) P.V. narasimha rao, was a guerrilla fighter at the time of independence revolting against the nizam of hyderabad.
3) P.V. narasimha rao is a polyglot who can speak 17 languages.
4) The only telugu man who has been the prime minister of india and he was also the first prime minister outside the nehru-gandhi family.
5) He reduced interest rates and ended public monopolies which led foreign direct investment prevail in india. he did wonders for indian economy.
6) 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.
7) 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.
8) 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.
9) 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 and energised the national nuclear security and ballistic missiles program, which ultimately resulted in the 1998 pokhran nuclear tests.
10) It was during his term as prime minister that terrorism in the indian state of punjab was finally defeated
11) Launched the look east foreign policy, which brought india closer to the association of southeast asian nations.
12) Never made money despite holding the post of pm for 5 years. faced many difficulties in paying daughter’s fees for medical education.