On Saturday, Prime Minister Narendra Modi paid tribute to former Prime Minister Narasimha Rao on his birth anniversary, expressing gratitude for Rao's 'effective leadership' during a pivotal phase of India's development.

In a post on the social media platform 'X', Modi highlighted the widespread appreciation for Rao's intelligence, wisdom, and scholarly contributions.

Rao's tenure from 1991 to 1996 is regarded as a crucial period in India's economic history, particularly as the nation faced a severe balance of payments crisis.

He implemented numerous economic reforms and opened up the economy to the private sector, paving the way for a prolonged era of growth compared to previous times.

Last year, the Modi administration posthumously awarded Rao the nation's highest civilian honor, the 'Bharat Ratna'.