Name the ‘Father of Indian Economics Reforms’

2. PV Narasimha Rao

Explanation

P.V. Narasimha Rao, India’s 9th Prime Minister, is known as the Father of Indian Economic Reforms. In 1991, he led bold liberalization policies that transformed India from a closed, socialist economy into a globally integrated, market-driven system.

Who is the ‘Father of Indian Economic Reforms’?

P.V. Narasimha Rao is known as the “Father of Indian Economic Reforms”. These reforms are the foundation of modern India’s economic strength. They were recognized posthumously for his transformational leadership.

India’s economic transformation in 1991 is often hailed as one of the most significant events in its post-independence history. At the center of this transformation was Pamulaparthi Venkata Narasimha Rao, widely regarded as the Father of Indian Economic Reforms. As the Prime Minister during a time of severe economic crisis, it was his political courage and leadership that paved the way for the liberalization of the Indian economy.

Let us see a few important aspects about Father of Indian Economic Reforms:

• Full Name: Pamulaparthi Venkata Narasimha Rao
• Prime Minister of India (1991–1996)
• Known for being multilingual and scholarly
• First Prime Minister from southern India

While Dr. Manmohan Singh is credited with formulating and executing the reforms, it was Rao who provided the necessary political support. Without his vision and willingness to break from socialist orthodoxy, the reforms may never have been implemented. His leadership marked the beginning of India’s transition from a closed economy to a global player.

Under Rao’s leadership, the government launched a comprehensive reform package focused on liberalization, privatization, and globalization (LPG model). The License Raj system was dismantled, allowing private companies greater freedom. Foreign Direct Investment (FDI) policies were liberalized to attract global capital.

Summary

Question: Name the ‘Father of Indian Economics Reforms’
Answer: P.V. Narasimha Rao is the ‘Father of Indian Economics Reforms’. P.V. Narasimha Rao not only changed India’s economic structure but also redefined what was politically possible in India. Today, historians and economists agree that P.V. Narasimha Rao was not just a reformer — he was the visionary who unlocked India’s true economic potential, rightly earning the title “Father of Indian Economic Reforms.”

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