Former PM Narasimha Rao gets Bharat Ratna: All you should know about architect of modern India

The BJP government today announced India's highest civilian honor, the Bharat Ratna, to former Prime Ministers Narasimha Rao along with Chaudhary Charan Singh, and agricultural scientist and father of India's Green Revolution, MS Swaminathan. This follows the posthumous conferment of the nation's highest honor, the Bharat Ratna, to former Bihar Chief Minister Karpoori Thakur last month. Prime Minister Narendra Modi made the announcement about the award on x.


"Delighted to share that our former Prime Minister, Shri PV Narasimha Rao Garu, will be honoured with the Bharat Ratna. As a distinguished scholar and statesman, Narasimha Rao Garu served India extensively in various capacities. He is equally remembered for the work he did as Chief Minister of Andhra Pradesh, Union Minister, and as a Member of Parliament and Legislative Assembly for many years. His visionary leadership was instrumental in making India economically advanced, laying a solid foundation for the country's prosperity and growth," PM Modi posted.


"Narasimha Rao Garu’s tenure as Prime Minister was marked by significant measures that opened India to global markets, fostering a new era of economic development. Furthermore, his contributions to India's foreign policy, language and education sectors underscore his multifaceted legacy as a leader who not only steered India through critical transformations but also enriched its cultural and intellectual heritage," he said in his tweet.

Narasimha Rao served as Prime Minister from 1991 to 1996

Narasimha Rao spearheading India's economic liberalization. Born on June 28, 1921, to Shri P. Ranga Rao in Karimnagar, he pursued education at Osmania University, Hyderabad, Bombay University, and Nagpur University. Transitioning from agriculture and law to politics, he held various ministerial roles and represented constituencies in the Andhra Pradesh Legislative Assembly and Lok Sabha. Beyond politics, Rao exhibited diverse interests, including literature, philosophy, and international diplomacy. As Minister of External Affairs, he played a significant role in shaping India's foreign policy, contributing notably to the Non-Aligned Movement and Commonwealth Heads of Government meetings. Additionally, he chaired several joint commissions with nations worldwide.

How Narasimha Rao brought India out of economic crisis

In 1991, India encountered its severest economic downturn and teetered on the edge of a sovereign default. The Gulf War of 1990-91 triggered a substantial rise in oil prices and a decline in remittances from Indian expatriate workers, resulting in a significant depletion of India's foreign exchange reserves—amounting to less than $6 billion, scarcely enough to cover approximately two weeks of imports.

The immediate priority for the Rao government was to avert a sovereign default—an embarrassment India had thus far managed to evade. To address this, two immediate measures were implemented: the devaluation of the rupee and the commitment of gold reserves to bolster foreign exchange reserves.

Prime Minister Rao, in collaboration with Finance Minister Manmohan Singh, spearheaded a series of reforms, including structural changes and tariff reductions. Additionally, they presented a landmark budget in 1991, aiming to revitalize the economy.