Shaktikanta Das, the former Governor of the Reserve Bank of India (RBI), has taken on a crucial new role as the second Principal Secretary to Prime Minister Narendra Modi. Announced by the Appointments Committee of the Cabinet on February 22, 2025, this role sits beside PK Mishra’s longstanding Principal Secretary position. It's a strategic move designed to bolster leadership within the Prime Minister’s Office, especially during these economically turbulent times.
Shaktikanta Das's Impactful Tenure at RBI
Das brings a wealth of experience from his diverse roles within the Indian bureaucracy. A 1980-batch Indian Administrative Service (IAS) officer from Tamil Nadu, he has held significant positions including Economic Affairs Secretary, Revenue Secretary, and Fertilizers Secretary, each contributing to his robust understanding of fiscal and economic matters.
During his leadership at the RBI from 2018 to 2024, Das faced several colossal economic hurdles. He played a key role in managing the aftermath of demonetisation, a move aimed at curbing black money, which initially caught the economy in a whirlwind. His tenure also coincided with the onslaught of the COVID-19 pandemic, where his steady hand helped steer the central bank through unprecedented financial uncertainties and global economic instability.
Das didn’t stop there. He advanced the digital payments landscape, fostering an environment ripe for fintech innovation. Under his guidance, the RBI saw improved communication with market forces and strengthened its ties with the government, especially following the abrupt resignation of his predecessor, Urjit Patel.
New Role Amid Global Challenges
The decision to appoint Das to this new, critical position appears to be a calculated response to present economic challenges. As geopolitical tensions heighten and growth slows, having a seasoned expert like Das guiding economic strategies is invaluable. His proven track record of handling economic reforms and navigating complex fiscal policies will likely play a pivotal role in shaping India’s economic future.
With PK Mishra continuing in his role, the addition of Das as the second Principal Secretary establishes a fortified leadership structure in the Prime Minister’s Office. This bolsters the governance framework at a time when navigating through global and domestic economic concerns calls for seasoned insights and strategic prowess.
