Narasimha Rao was forced into 1991 reforms: Jaitley
Finance Minister Arun Jaitley has said that former Prime Minister PV Narasimha Rao was not a “big liberaliser” and he initiated the 1991 economic reforms out of “compulsion”, following the failure of Nehruvian economics. Jaitley stated that Rao was "forced" to come out of the 'Nehruvian mindset' which impacted India, in order to avoid a sovereign credit default.