Shaktikanta Das Steps into Key Role in Prime Minister's Office
In a move that underscores the increasing complexities of economic management, former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as the second Principal Secretary to Prime Minister Narendra Modi. This unprecedented decision in the Prime Minister's Office (PMO) highlights the administration's recognition of the need for experienced and adept economic thinking at the highest level of governance.
The Appointments Committee of the Cabinet, which gave its nod on February 23, 2025, has made the appointment co-terminus with Modi's term or until further directives are issued. This role, unique and pivotal, is a testament to Das's decorated career and vast experience. An IAS officer from the 1980 batch of Tamil Nadu, Das's impressive track record spans several high-stakes economic reforms, including the introduction of the Goods and Services Tax (GST) in 2017 and the challenging demonetisation policy of 2016.
A Seasoned Economic Strategist Amidst Global Challenges
Shaktikanta Das's tenure as RBI Governor, which lasted for six years until December 2023, was marked by his proactive measures to steady the Indian economy amid the tumult of the COVID-19 pandemic. During this period, Das led the bank through numerous global economic challenges, implementing critical liquidity measures and formulating strategic monetary policies to stabilize turmoil-ridden markets.
His vast experience doesn't end there. Das also held significant roles such as India's G20 Sherpa and was integral to the 15th Finance Commission. These roles were instrumental in shaping India's financial landscape, situating him as a critical player during times of economic shifts. His expertise is now seen as vital to addressing the burgeoning fiscal challenges, including rising pension expenditures now surpassing salary allocations in the national budget.
With PK Mishra continuing as the current Principal Secretary, Das's addition introduces a new dynamic to PM Modi's team, strengthening the PMO's capability to address domestic and international economic pressures. His ability to coordinate efficiently between policymakers, financial institutions, and international entities makes him an invaluable asset in navigating both domestic and global uncertainties.
The strategic move of appointing an experienced economic strategist like Das underscores the administration's commitment to effectively tackle economic challenges head-on. As India traverses through current fiscal and global market fluctuations, the seasoned insights of Shaktikanta Das could be pivotal in steering the nation towards stability and growth.