27 February 2025
Shaktikanta Das, who made significant strides as the Reserve Bank of India (RBI) Governor from 2018 to 2023, has stepped into a pivotal role as Principal Secretary-2 to Prime Minister Narendra Modi. His tenure as the head of the RBI was marked by his adept handling of various economic upheavals, notably the COVID-19 crisis. During those challenging years, Das was instrumental in navigating the country through turbulent economic waters, ensuring stability and crafting strategies to cushion the economy from global shocks.
Das's expertise in financial governance came to the fore particularly during the pandemic, when the world was grappling with unprecedented economic downturns. With India’s economy facing severe disruptions, Shaktikanta Das and the RBI adopted a series of critical monetary measures, including slashing interest rates and ensuring liquidity infusion, which played a key role in maintaining economic stability and aiding recovery post-pandemic.
The move to appoint him as Principal Secretary-2 suggests a strategic approach by the PM’s Office to infuse seasoned economic wisdom into top-tier policy-making. This role is vital as it involves not just advising the Prime Minister but also assisting in the execution of key economic policies and initiatives. As Principal Secretary-2, Das's insights and hands-on experience in financial stewardship are expected to contribute significantly to strengthening governance and economic frameworks.
This appointment aligns with the government’s focus on reinforcing the country’s economic policies amidst global uncertainties and evolving financial dynamics. It also indicates a prioritization of economic resilience and growth, leveraging Das’s vast experience. Known for his decisive and resilient leadership during his tenure at the RBI, Das is now poised to bring the same acumen and strategic depth to the broader policy spectrum governing India.
