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This research article delves into the transformative and reformative reign of Nalwadi Krishnaraja Wodeyar IV (reigned 1902-1940), the enlightened ruler of the princely state of Mysore, widely celebrated for his progressive vision and ethical leadership. Often hailed as a "Rajarshi" (philosopher-king), Krishnaraja Wodeyar IV was one of the most forward-thinking monarchs in colonial India, known for his dedication to modernization, human development, and inclusive governance. His rule coincided with a period of increasing national consciousness and anti-colonial struggle across India, yet Mysore stood as a unique model of indigenous governance that worked in tandem with the British colonial framework to deliver welfare-centric reforms. Under his leadership--and through the administrative genius of Dewans like Sir M. Visvesvaraya and Sir Mirza Ismail--Mysore became a pioneer in multiple domains: universal education, industrialization, public health, infrastructure development, constitutional governance, and affirmative action. Major initiatives included the establishment of the University of Mysore (1916), one of India's earliest modern universities; the Krishna Raja Sagara (KRS) Dam, a marvel of engineering and irrigation; the Mysore Iron and Steel Works in Bhadravati, fostering industrial self-reliance; and one of the earliest reservation policies for backward communities, laying a foundation for modern social justice discourse. Drawing from archival records, government documents, memoirs, and academic literature, this study critically evaluates the holistic reforms introduced during Krishnaraja Wodeyar IV's rule. It also explores how his legacy continues to influence contemporary governance models in Karnataka and India at large, making a strong case for revisiting princely states as active agents of modernity rather than relics of feudalism.