PV Narasimha Rao: The Prime Minister Who Guided India’s Growth!

The Indian Government shared the big news of conferring former Prime Minister of India PV Narasimha Rao with the prestigious Bharat Ratna award. Those who know about PV and the reforms he brought say that he is eligible for the highest civilian award.

As he will be honoured with the Bharat Ratna Award, let us have a look at the decisions and reforms he brought. In 1991 the budget was tabled when he was the Prime Minister. The budget was the game changer given the impact it created on the economy and its growth.

Before PV’s tenure as the PM, there was a License regime and they were certain restrictions on companies coming to India and making investments. But he changed the status quo of the trend and opened the doors of the economy and foreign investments were also invited.

Ending the license Raj was a game changer decision which in turn resulted in new companies coming and the economy blossoming. Across the fields like telecommunications, pharma, and IT big companies stepped in and their presence helped the economy.

Not just that, his regime also boosted imports and exports. The path for the exports was cleared and the foreign direct investments increased. Big companies entered the Indian space and provided employment. Besides providing employment, foreign direct investments also helped the economy boost.

PV Narasimha Rao balanced the economic growth and revamping the infrastructure. The Education sector also saw a big push in infrastructure as new schools were brought in and the facilities were improved.

He became the Prime Minister in a tough time when the Indian economy was not in good shape. The gold reserves were pledged due to the situation. He not only took measures to bring the reserves out of the pledge but also helped India grow as a strong economy.