Former Prime Minister Atal Bihari Vajpayee was the first non-Congress prime minister to complete a full five-year term in office. But that was not his only claim to fame. Vajpayee also pioneered economic reforms, which laid the foundation for several major steps.
The new divestment era
Vajpayee was the first PM to set up a separate disinvestment ministry. Despite facing political obstacles and internal conflicts, the Vajpayee-led government successfully divested Bharat Aluminium Company (BALCO), Hindustan Zinc, Indian Petrochemicals Corporation Ltd and VSNL. Vajpayee not only had to face a determined Opposition, but also the growing dissent from coalition partners and the Sangh Parivar over privatisation of profit-making public sector undertakings (PSUs), such as HPCL and BPCL.