Manmohan calls Rao father of financial reforms in India


Tribune News Service
New Delhi, July 24

Former Prime Minister Manmohan Singh in the present day inaugurated the start centenary celebrations of late PM PV Narasimha Rao remembering how this very day 29 years in the past he offered the historic Union Budget that ushered financial liberalisation in India.

He described Rao as son of the soil, an necessary member of the Congress and actually the daddy of financial reforms in India. The former PM mentioned Rao labored intently with late PMs Indira Gandhi and Rajiv Gandhi and later led the get together to a 244-seat efficiency within the 1991 Lok Sabha elections held after Rajiv’s assassination.

Speaking on the first formal occasion the Congress ever organised within the reminiscence of Rao, Manmohan Singh mentioned, “I am particularly happy that this programme has been organised on the day on which I had the privilege, as the Finance Minister of India, of presenting the first budget of Rao’s government in 1991.”

Hailing Rao for daring management and skill to hold everybody alongside, he mentioned, “It was a budget that ushered in liberalisation. It was a hard choice and a bold decision and it was possible because Prime Minister Narasimha Rao ji gave me the freedom to roll out things.”

He added, “It was a precariously placed minority government dependent on outside support, yet Rao was able to carry everyone along, convincing them with his conviction. Enjoying his confidence, I went about my job to carry forward his vision. He can truly be called the father of economic reforms in India.”

“Mindful of the troubled relationship between the Congress under Sonia Gandhi and Rao (whose body was not allowed at the AICC headquarters for last respects), he spoke of the late leader being “an important member of the Congress”.

Manmohan Singh mentioned Rao was chosen the Congress president after Rajiv’s assassination, midway by the 1991 Lok Sabha election. “The party won 244 seats. Though Rao himself did not contest the elections, he was the Congress president. He became the automatic choice to become the PM on June 21, 1991. It was on this day that he made me his FM,” recalled Manmohan.

Earlier, Congress president Sonia Gandhi, in her message to the Telangana Congress, which started the start centenary celebrations of Rao, mentioned Rao was a devoted Congress man.



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