According to a press release, Naidu referred to the measures initiated by Rao to liberalise the economy. "He sought to dismantle the restrictions imposed under the license raj, reduce red tape and make Indian industries more competitive," the Vice President recalled.
source https://timesofindia.indiatimes.com/india/vice-president-pays-tributes-to-pv-narasimha-rao-on-his-birth-anniversary/articleshow/76670854.cms
source https://timesofindia.indiatimes.com/india/vice-president-pays-tributes-to-pv-narasimha-rao-on-his-birth-anniversary/articleshow/76670854.cms
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