HYDERABAD: “Numerous books have been written about the role played by Manmohan Singh, then finance minister, in India’s 1991 economic reforms. I have focused on the enormous contribution of PV Narasimha Rao to the Indian economy, via the liberalisation methods adopted”, said Dr Sanjaya Baru at the launch of his book ‘1991: How PV Narasimha Rao Made History’ at Centre for Economic and Social Studies (CESS) auditorium in the city on Thursday.
The panelists in the event by Hyd Park included Dr C Rangarajan, former Governor of Andhra Pradesh, Dr CH Hanumantha Rao, renowned economist and writer, and Dr Parakala Prabhakar, Communications adviser, government of AP.
Speaking on the topic, Dr Rangarajan said, “The balance of payments crisis of 1990 was converted into an opportunity by PV Narasimha Rao. He steered the legislation through Parliament while heading a minority government, and articulated the reforms in a way acceptable to his party. Without PV’s support, the reforms might not have been possible.”
On the ‘middle-way’ ideology of the former PM, Dr CH Hanumantha Rao said PV believed in a balance between market-oriented and socialist philosophies, and had the interests of people in his heart.
“He imbibed Nehruvian outlook, and believed in a democratic framework”, he said, expressing hope that the unfinished agenda of the reforms, viz. achieving inclusive growth along with social justice, becomes a reality in the near future.
Dr Parakala Prabhakar said writing about PV Narasimha Rao was difficult, because he spoke little, wrote less, and not many people around him knew who he really was. He was an astute politician though, and held people close to his heart, Parakala said. “But when it came to administration, he had clearly indicated everybody in no uncertain terms who was the boss”, he noted.
Over 250 people attended the event which concluded with Dr Sanjaya Baru signing his books for the audience.