Author: S Narendra
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PV Narasimha Rao the economic liberaliser was wary about taking credit
July 24, 1991. It was on this day the powerful chains controlling the Indian economic elephant were removed by Prime Minister P V Narasimha Rao. Without much fanfare, not even a ministerial press conference, the Industry Ministry he was in charge of, announced the abolition of Industries (Development and Regulation Act 1951). All licensing of…