Rao’s premiership during 1991-96 is considered the most defining period in the country’s economic journey as, with India facing a serious balance of payment crisis, he unshackled the state control on economy and opened it to private players. This paved the way for a long era of growth better than what was seen in the past.
He was given the country’s highest civilian honour, Bharat Ratna, posthumously by the Modi government last year. PTI KR MNK MNK