Shaktikanta Das Steps In as Second Principal Secretary to Modi, Adding Economic Expertise to the Team

Mar, 1 2025

Shaktikanta Das: Bringing Depth to Modi's Economic Strategy

In an intriguing development within India's political sphere, Shaktikanta Das, the former Governor of the Reserve Bank of India (RBI), takes on the new mantle of second Principal Secretary to Prime Minister Narendra Modi. This position, fashioned to meet the complexities of modern governance, signals not only an expansion of advisory capacity but also a strategic leveraging of Das's deep-rooted experience in monetary policy and crisis management.

Das, who served as RBI's governor from 2018 until December 2023, is not a stranger to pivotal roles in India's economic landscape. His tenure was marked by leadership through the tumultuous demonetization in 2016, an event orchestrated to unearth illicit wealth and curb corruption—although it attracted both praise and criticism. Das later navigated the RBI through the uncharted waters of the COVID-19 pandemic, ensuring market fluidity and stability during the global health crisis.

The Working Duo: Das and Mishra

In his new role, Das will work in tandem with the established Principal Secretary, PK Mishra, who has been with the Prime Minister since 2019. This appointment not only diversifies the leadership but also consolidates the government's economic acumen with Das's impressive resume that includes roles like Economic Affairs Secretary, where he deftly managed fiscal policy during challenging times.

The timing of Das’s appointment, co-terminus with Modi’s ongoing term, reflects an intent to bolster strategic advisory on economic matters. Observers see this move as reinforcing the government's commitment to economic resilience and growth, particularly as India navigates a post-pandemic recovery landscape. The decision to appoint Das ministerializes the importance of a steady-hand in steering complex economic strategies, ensuring that the government is poised to meet both challenges and opportunities head-on.

As Das joins Modi's close-knit team, one can expect his influence to permeate economic decision-making, crafting policies that leverage his vast experience. India's economic future may very well be shaped by this key appointment, poised to add a rich layer of expertise right at the helm of the nation’s leadership.