New Delhi, Jun 28 (IANS): Prime Minister Narendra Modi and the Congress on Friday paid homage to former Prime Minister P.V. Narasimha Rao on his 98th birth anniversary.

Modi described Rao as a "great scholar and veteran administrator" who led the country at a crucial juncture.

"He will be remembered for taking pioneering steps that contributed to national progress," Modi tweeted.

Congress leader Randeep Singh Surjewala said Rao's immense contribution to the country's economic reforms would always be cherished.

The party described Rao as "a visionary leader who oversaw major economic transformations of the Indian economy and dismantling of the License Raj. His contributions to the nation shall always be etched in our memory".

Rao assumed office in 1991 and remained in power till 1996.

It was during Rao's term that Manmohan Singh as the Finance Minister ushered in sweeping economic reforms.

A six-time MP, Rao was born on June 28, 1921. He died at age 83 in 2004.