It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as trustees.father of Economic Reforms in India.Manmohan Singh described Rao as an important member of the Congress, who worked closely with late PMs Indira Gandhi and Rajiv GandhiActive cases 5,28,242, recoveries cross 10 lakhCM Mamata Banerjee says deeply saddened by the deathEarlier, Congress president Sonia Gandhi also sent a message in the memory of Rao calling him “scholarly, erudite and bold” and speaking of how the Congress takes “pride in his many achievements”.Login / Register“The party ended up winning 244 Lok Sabha seats. The union budget presented on July 24, 1991 by Manmohan Singh as the finance minister in Rao’s cabinet, changed India in many ways, ushering in economic reforms and liberalisation. Why Dr. ManMohan Singh To Recognize Bharat Ratna. The budget announced by Manmohan Singh for the year 1991-92 remains one of the most reformative budgets the country has ever witnessed. ET analyses that famous budget, tells the untold story of reforms.
MP Jairam Ramesh writes about the 1991 Budget and "how Dr. Manmohan Singh, the ‘hedgehog’, and Prime Minister Narasimha Rao, the ‘fox’, rescued India at its darkest moment." We were able to do this because a set of great leaders were at the helm of the Congress govt. It was a precariously placed minority Government, dependent on outside support. Yet Narasimha Rao Ji was able to carry everyone along, convincing them with his conviction. “The party ended up winning 244 Lok Sabha seats. Though Narasimha Rao Ji himself did not contest the elections but had been the Congress President, he became the automatic choice to become the Prime Minister of India on June 21, 1991. pic.twitter.com/OeSFkkxbK4Singh, the then finance minister in the Congress government led by former prime minister P V Narasimha Rao, had been instrumental in ushering in economic liberalisation.Singh, while addressing the event, said Rao was a "great son of the soil" and he can truly be called the father of economic reforms in India as he had both the vision and the courage to push them forward.Personalized, Latest & Breaking NewsSwiss Alps alive with sound of musicCoronavirus: Here is how the Oxford vaccine works “That government took off just after the sad demise of Rajiv Gandhi. Restraint and moderation, rather than agitational language and partisanship, are the hallmarks of the paper. [26] Rao was often referred to as Chanakya for his ability to steer tough economic and political legislation through the parliament at a time when he headed a minority government . Singh said Rao was chosen to become the Congress president after the assassination of Rajiv Gandhi and became the automatic choice to become prime minister on June 21, 1991… Manmohan Singh Economic liberalisation in India was initiated in 1991 by Prime Minister P. V. Narasimha Rao and his then-Finance Minister Dr. Manmohan Singh.