Stating that the reforms in various sectors initiated by former Prime Minister late PV Narasimha Rao were irreversible, Vice President M Venkaiah Naidu on Sunday said the reforms process was being implemented more vigorously by the present Narendra Modi government.
“The bold economic reforms launched by Rao had accelerated the country’s development on various fronts. It was during his regime that reforms in agriculture sector were introduced and restrictions on transportation of food grains were removed,” Naidu said while releasing a book “Viplava Tapasvi,” written in Telugu by senior journalist A Krishna Rao. The book highlights the different facets of the former prime minister.
Naidu reminded that the reforms process was later carried forward by the Vajpayee government and is now being implemented more vigorously by the present Modi government. “He had removed license raj, took up banking reforms, electricity privatization, telecom modernization and steps for boosting exports and attracting foreign investment. He facilitated the entry of India into the World Trade Organization,” he pointed out.
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Naidu said Rao had a firm belief that the government should not do business but focus on the welfare and development of the nation. “The objective of the economic reforms was to involve the private sector in the development process. He liberalised economy and involved the private sector in key areas,” he pointed out.
The vice president reminded that when Narasimha Rao took over as the prime minister, the country was going through severe economic crisis and political uncertainty. “He surpassed the expectations of many political pundits and effectively steered the country through many challenges during his tenure,” he said.
Describing the former PM as a multi-faceted personality, he said Rao was a great scholar, litterateur and multi-linguist.
“Unfortunately, he did not get due recognition in his party and also as an administrator,” Naidu said.
PV Narasimha Rao Centenary Celebrations Committee chairman and Rajya Sabha MP K Keshava Rao and publisher Raghavendra Rao attended the function.