Shaktikanta Das: A Strategic Choice for Modi's New Economic Vision
In a significant move, the former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as the Principal Secretary-2 to Prime Minister Narendra Modi. This decision marks the creation of a new position within the Prime Minister's Office (PMO), underlining the administration's commitment to a robust economic strategy. Das, having served as the RBI Governor from 2018 to 2023, is no stranger to economic challenges, including his noteworthy role in managing the aftermath of demonetization, the economic turmoil brought by the COVID-19 pandemic, and various global financial crises.
During his tenure at the RBI, Das was instrumental in repairing strained relations between the RBI and the central government. His focus on effective crisis management strategies and transparent communication with markets and stakeholders played a pivotal role in stabilizing the economy during turbulent times. When demonetization shook the nation in 2016, Das was at the forefront, ensuring the market remained steady, and later played a crucial part in keeping financial services operational during the pandemic-induced lockdowns.
Background and New Role Significance
A 1980-batch Tamil Nadu cadre IAS officer, Das brings a wealth of experience to his new role. He holds a master's degree in history from St. Stephen's College, Delhi, and has held significant positions in both central and state governments. Notably, he was a member of the 15th Finance Commission, which further attests to his deep understanding of India's economic landscape.
His appointment as Principal Secretary-2 is co-terminus with Prime Minister Modi's term, signaling a strategic alignment in economic policies with the government’s broader vision. By creating this new role for Das, the PMO is demonstrating a clear intent to harness his expertise in economic policy and crisis management. This decision also ensures continuity and stability, as PK Mishra will continue his role as the existing Principal Secretary. Together, these appointments aim to fortify the PMO's economic advisory team, capable of navigating India's future financial landscapes with confidence.
