P. V. Narasimha Rao Net Worth

Background and career

Pamulaparthi Venkata Narasimha Rao (28 June 1921 – 23 December 2004) was an Indian independence activist, lawyer, and politician from the Indian National Congress who served as the prime minister of India from 1991 to 1996. He was the first person from South India and the second person from a non-Hindi speaking background to be prime minister. He is known for his role in initiating India's economic liberalisation following an economic crisis in 1991, a process that has been sustained and expanded by every successive prime minister of the country.

Prior to his premiership, he served as the chief minister of Andhra Pradesh, and later also held high-order portfolios of the union government, such as Defence, Home Affairs and External Affairs. In 1991 Indian general election, the Indian National Congress led by him, won 244 seats, and thereafter, he, along with external support from other parties, formed a minority government with him being the prime minister.As prime minister, Rao adopted to avert the impending 1991 economic crisis, the reforms progressed furthest in the areas of opening up to foreign investment, reforming capital markets, deregulating domestic business, and reforming the trade regime. Trade reforms and changes in the regulation of foreign direct investment were introduced to open India to foreign trade while stabilising external loans.

In 2024, he was posthumously awarded the Bharat Ratna, India's highest civilian award, by the government of India. In 2025, his portrait was unveiled at Raj Bhavan on the eve of his birth anniversary by the Governor of Telangana Jishnu Dev Varma.