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Shri P. Chidambaram has expressed his deep grief on the passing away of Shri P.V. Narasimha Rao. In his condolence message, the Finance Minister described the former Prime Minister as an astute political manager who, despite being just short of majority in the Parliament, managed the political contradictions while steering the economic reforms.
The Finance Minister stated that Shri Narasimha Rao became the Prime Minister of India at a crucial moment of India’s history, especially India’s economic history. No other Prime Minister was confronted with an acute financial crisis such as the one that hit India in 1991. However, Shri Narasimha Rao was resolute, strong willed, clear-headed and decisive, he added.
The Finance Minister said that “ Shri Narasimha Rao relied upon his Ministers and economic advisers. He strongly relied on the advice of Dr. Manmohan Singh, the then Finance Minister. He gave Dr. Singh and his other colleagues the freedom to take difficult decisions. I remember that whenever we presented him with a decision he would ask: “Are you sure that this is the right decision to take in these circumstances?” , and if we said that it was the right decision, he would give the go-ahead for the decision”.
Shri Chidambaram stated that when the story of India’s economic reforms is written, history would record that the invisible hand that guided the reform process was that of Shri Narasimha Rao.
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