Who is the Father of Indian Economy?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
PV Narasimha Rao is referred to as the Father of Indian Economics. From 1991 to 1996, he served as India’s ninth Prime Minister. Rao, who was born in the Laknepalli village of Narsampet Mandal in Telangana’s formerly Warangal district in 1921, was an active participant in the Indian independence movement and a member of the Indian National Congress. The Father of Indian Economics was a politician as well as a lawyer. The Father of Indian Economics was responsible for a major economic shift in India.
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Father of Indian Economy
From 1991 to 1996, PV Narasimha Rao, an Indian politician, and lawyer served as the country’s ninth prime minister. He is frequently referred to as the “Father of Economics in India.” Being the first prime minister from South India and the second from a region where no one spoke Hindi made his election to the position politically significant.
He was the head of a significant government in charge of economic development and a variety of domestic events affecting India’s national security.
Father of Indian Economics
Pamulaparthi Venkata Narasimha Rao was a politician, and lawyer frequently referred to as the Father of Indian Economics. Narasimha Rao was fluent in several languages, including Telugu, Marathi, Oriya, Sanskrit, French, English, Urdu, German, Spanish, Hindi, and Arabic.
- The victory of Narasimha Rao in the parliamentary elections was recognized by the Guinness Book of World Records.
- He defeated Nandyal with a margin of victory of 5 lakh votes.
- He is known as the “Architect of Recent India” and the “Father of Indian Economic Reforms” because he reduced various interest rates and removed state monopolies that prevented Foreign Direct Investment from flourishing in India.
- Even after five years as India’s Prime Minister, he struggled to pay his daughter’s college tuition because he did not generate enough money.
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