PV Narasimha Rao

• 29 Jun 2020

Why in News

Recently, the Telangana Chief Minister launched the year-long celebrations to commemorate the birth centenary of former prime minister P V Narasimha Rao.

• The centenary celebrations will highlight the 360-degree personality of P V Narasima Rao.

Key Points

• PV Narasimha Rao was born on 28^th June 1921 in erstwhile Nizam's Hyderabad state.
• He was a freedom fighter, academician, and literary figure. He was also the 9^th Prime Minister of India from 1991 to 1996.
• He published ‘SahasraPhan’, a Hindi translation of the famous Telugu Novel ‘Veyi Padagalu’.
• Economic Reforms: He sought to dismantle the restrictions imposed under the license raj, reduce red tape and make Indian industries more competitive. 
  • He is known for bringing the policy of economic liberalisation in India.
    
    • The economic liberalisation in India is referred to the liberalisation of the country's economic policies.
    • It was initiated in 1991 with the goal of making the economy more market- and service-oriented, and expanding the role of private and foreign investment.
• Foreign Policy: In terms of foreign policy, he established diplomatic relations with Israel.
  
  • The Look East Policy of India was also initiated during his tenure.
  • He is also known for reversing decades of unfriendly relations between India and the United States by bringing them together.
• Constitutional Reforms: The 73^rd and 74^th Constitutional Amendments Act empowering local bodies were enacted during his tenure.

Source: IE