Narasimha Rao became PM when India was facing severe economic crisis & FC reserve was only US$ 1 billion: Pranab Mukherjee 2012
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Faced with the financial crisis, in an unprecedented and courageous move, he departed from the usual policy of appointing a senior political leader as the Finance Minister. Instead, he appointed Dr. Manmohan Singh our present Prime Minister as Finance Minister. He is an economic administrator and a well-known economist himself. He gained rich experience in policy making as the Economic Affairs Secretary and RBI Governor.