Andhra Pradesh Chief Minister N. Chandrababu Naidu on Tuesday hailed former Prime Minister P.V. Narasimha Rao as a visionary statesman whose bold economic reforms transformed India’s destiny. Speaking at a lecture titled “The Life and Legacy of Former PM Shri PV Narasimha Rao”, Naidu said, “We are enjoying the fruits of his reforms even today.”

Highlighting Rao's linguistic brilliance — he reportedly knew 17 languages — Naidu praised his ability to navigate a severe economic crisis in 1991. “Before 1991, India’s economy was shackled by licence raj and restricted foreign investment. By mid-1991, our foreign exchange reserves had fallen to record lows, forcing us to pledge gold. It was then that Narasimha Rao took charge and saw crisis as an opportunity,” he noted.

Assuming office in June 1991, Rao led a minority government yet initiated sweeping liberalisation policies. “It takes tremendous courage to launch such reforms without a clear majority. But he managed to build consensus across political lines,” Naidu said.

He further credited Atal Bihari Vajpayee for strengthening infrastructure post-Rao’s reforms and praised Prime Minister Narendra Modi for ushering in political stability and a renewed global stature for India. “Since 2014, Modi ji has ensured not just governance, but also focused on bridging the socio-economic divide,” Naidu remarked.

Emphasising the importance of inclusive growth, he said, “Wealth creation must go hand in hand with reducing inequality. That’s the hallmark of Modi ji’s policies.”

Naidu expressed optimism about India’s future, stating that the next two decades are critical. “India will become the world’s third-largest economy by 2028. By 2047, I am confident we will be number one,” he declared.

Earlier in the day, Naidu visited the Prime Ministers’ Museum and Library to pay tribute to India’s former leaders.

Andhra Pradesh Chief Minister N. Chandrababu Naidu on Tuesday hailed former Prime Minister P.V. Narasimha Rao as a visionary statesman whose bold economic reforms transformed India’s destiny. Speaking at a lecture titled “The Life and Legacy of Former PM Shri PV Narasimha Rao”, Naidu said, “We are enjoying the fruits of his reforms even today.”

Highlighting Rao's linguistic brilliance — he reportedly knew 17 languages — Naidu praised his ability to navigate a severe economic crisis in 1991. “Before 1991, India’s economy was shackled by licence raj and restricted foreign investment. By mid-1991, our foreign exchange reserves had fallen to record lows, forcing us to pledge gold. It was then that Narasimha Rao took charge and saw crisis as an opportunity,” he noted.

Assuming office in June 1991, Rao led a minority government yet initiated sweeping liberalisation policies. “It takes tremendous courage to launch such reforms without a clear majority. But he managed to build consensus across political lines,” Naidu said.

He further credited Atal Bihari Vajpayee for strengthening infrastructure post-Rao’s reforms and praised Prime Minister Narendra Modi for ushering in political stability and a renewed global stature for India. “Since 2014, Modi ji has ensured not just governance, but also focused on bridging the socio-economic divide,” Naidu remarked.

Emphasising the importance of inclusive growth, he said, “Wealth creation must go hand in hand with reducing inequality. That’s the hallmark of Modi ji’s policies.”

Naidu expressed optimism about India’s future, stating that the next two decades are critical. “India will become the world’s third-largest economy by 2028. By 2047, I am confident we will be number one,” he declared.

Earlier in the day, Naidu visited the Prime Ministers’ Museum and Library to pay tribute to India’s former leaders.