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P. V. Narasimha Rao
Pamulaparti Venkata Narasimha Rao (28
June 1921 – 23 December 2004) was an Indian lawyer and politician who served as the 9th Prime Minister of India, from
1991–1996. His ascendancy to the prime ministership was politically
significant in that he was the first holder of this office from a
non-Hindi-speaking region, belonging to the southern part of India. He led an
important administration, overseeing a major economic
transformation and several home incidents affecting national
security of India. Rao, who held the Industries
portfolio, was personally responsible for the dismantling of
the Licence Raj, as this came under the purview of the Ministry
of Commerce and Industry. He is often referred to as
the "Father of Indian Economic Reforms". Future
prime ministers Atal Bihari Vajpayee and Manmohan Singh continued the economic reform policies pioneered
by Rao's government. Rao accelerated the dismantling of the License Raj, reversing the socialist policies
of Rajiv Gandhi's government.
Childhood
& Early Life
· PV Narasimha Rao had humble social
origins. He was born in a Telugu Brahmin family in a village in Warangal
District, now in Telangana, but later adopted and brought to Vangara village of Bheemadevarapalli mandal of Karimnagar district in Telangana, then part of Hyderabad
State, when he was three years old.[1] His father, Pamulaparthi
Sitarama Rao, and mother, Pamulaparthi Rukmini (Rukminamma), hailed from
agrarian families.
· Popularly known as PV, he
completed part of his primary education in Katkuru village of Bheemdevarapalli
mandal in Karimnagar district by staying in his relative Gabbeta Radhakishan
Rao's house and studying for his Bachelor's degree in the Arts college
at the Osmania University. He later went on to Hislop
College, now under Nagpur
University, where he completed a Master's
degree in law.
· Rao's mother tongue was Telugu, and he had an excellent command
of Marathi. In addition to eight other
Indian languages (Hindi, Oriya, Bengali, Gujarati, Kannada, Sanskrit, Tamil and
Urdu), he spoke English, French, Arabic, Spanish, German and Persian.
· Along with his distant cousin Pamulaparthi Sadasiva Rao, Ch. Raja Narendra and
Devulapalli Damodar Rao, PV edited a Telugu weekly magazine called Kakatiya
Patrika in the 1940s. Both PV and Sadasiva Rao contributed
articles under the pen-name Jaya-Vijaya.
Career
·
Narasimha Rao was an active freedom fighter during the Indian Independence movement and joined full-time politics
after independence as a member of the Indian National Congress. His tenure as Chief
minister of Andhra Pradesh is well remembered even today for his land reforms
and strict implementation of land ceiling acts in Telangana region.
·
President's rule had to be imposed to counter the Jai Andhra movement during his tenure. He rose
to national prominence in 1972 for handling several diverse portfolios, most
significantly Home, Defence and Foreign Affairs, in the cabinets of both Indira
Gandhi and Rajiv
Gandhi. In fact, it is speculated that he was in the running for the post
of India's President along with Zail
Singh in 1982.
·
Rao successfully decimated the Punjab separatist movement and
neutralised Kashmir separatist movement. It is said that Rao was 'solely
responsible' for the decision to hold elections in Punjab, no matter how narrow
the electorate base would be. In dealing with Kashmir Rao's government was
highly restrained by US government and its president Mr.Clinton. Rao's
government introduced the Terrorist
and Disruptive Activities (Prevention) Act (TADA), India's first
anti-terrorism legislation, and directed the Indian Army to eliminate the
infiltrators from Pakistan.
·
In 1993, a strong earthquake in Latur, Maharashtra killed nearly 10,000 people
and displaced hundreds of thousands. Rao was applauded by many for using modern
technology and resources to organise major relief operations to assuage the
stricken people, and for schemes of economic reconstruction.
Major
Works
·
Rao energised the national nuclear security and ballistic missiles program, which ultimately
resulted in the 1998 Pokhran nuclear
tests. It is speculated that the tests were actually planned in 1995, during
Rao's term in office, and that they were dropped under American pressure
when the US intelligence got the whiff of it.
·
Rao also made diplomatic overtures to Western Europe, the United States, and China. He
decided in 1992 to bring into the open India's relations with Israel, which had been kept covertly
active for a few years during his tenure as a Foreign Minister, and permitted
Israel to open an embassy in New Delhi.
·
He ordered the intelligence community in 1992 to start a
systematic drive to draw the international community's attention to alleged
Pakistan's sponsorship of
terrorism against India and not to be discouraged by US efforts
to undermine the exercise.
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Awards
and Achievements
· Rao's
government's goals were reducing the fiscal deficit, Privatization of the public sector and increasing investment in
infrastructure. Trade reforms and changes in the regulation of foreign direct investment were
introduced to open India to foreign trade while stabilising external loans. Rao
wanted I.G. Patel as his Finance Minister.
·
Major
reforms in India's capital markets led to an influx of foreign portfolio
investment. The major economic policies adopted by Rao include:
·
Abolishing
in 1992 the Controller of Capital Issues which decided the prices and number of
shares that firms could issue.
·
Introducing
the SEBI Act of 1992 and the Security Laws (Amendment) which gave SEBI the legal authority to register and regulate
all security market intermediaries.
·Opening up in 1992 of India's equity markets to investment by foreign institutional
investors and permitting Indian firms to raise capital on international markets
by issuing Global Depository Receipts(GDRs).
·
Starting
in 1994 of the National Stock Exchange as a computer-based trading system which
served as an instrument to leverage reforms of India's other stock exchanges.
The NSE emerged as India's largest exchange by 1996.
·
Reducing
tariffs from an average of 85 percent to 25 percent, and rolling back
quantitative controls. (The rupee was made convertible on trade account.)
·
Encouraging
foreign direct investment by increasing the maximum limit on share of foreign
capital in joint ventures from 40 to 51% with 100% foreign equity permitted in
priority sectors.
·
Streamlining
procedures for FDI approvals, and in at least 35 industries, automatically
approving projects within the limits for foreign participation.
Personal
Life & Legacy
· Narasimha
Rao had three sons and five daughters. His eldest son P.V. Rangarao was an education minister in Kotla Vijaya Bhaskara Reddy's
cabinet and MLA from Hanamakonda Assembly Constituency, in Warangal District for
two terms. His second son, Late P.V. Rajeswara Rao, was a Member
of Parliament of the 11th Lok Sabha (15 May 1996 – 4 December 1997) from Secunderabad
Lok Sabha constituency.
· Rao
suffered a heart attack on 9 December 2004, and was taken to the All
India Institute of Medical Sciences where he died 14 days later
at the age of 83. His family wanted the body cremated in Delhi."This
is his karmabhoomi", Rao's son Prabhakara told Manmohan Singh. But Sonia
Gandhi's closest aides ensured that the body was moved to Hyderabad.
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