Shaktikanta Das’ New Role in PMO: What It Means for India’s Economy

In a significant move, the Union government has appointed former Reserve Bank of India (RBI) Governor Shaktikanta Das (Retd IAS: 1980, TN) as the Principal Secretary-2 to Prime Minister Narendra Modi. His tenure will run parallel to the PM’s term or until further orders, as per an official order from the Appointments Committee of the Cabinet (ACC). This appointment underscores the government’s intent to leverage Das’ deep financial expertise at the highest level of policy-making.

A Strong Leadership Team in the PMO

Das will work alongside P.K. Mishra, who continues as Principal Secretary-1 to the prime minister. Mishra, a former IAS officer, has been in this key role since September 2019, playing a crucial part in policy implementation and governance. With Das joining the team, the Prime Minister’s Office (PMO) is expected to benefit from a well-balanced mix of governance experience and economic acumen.

Shaktikanta Das: A Career of Excellence

Das recently completed his extended term as the 25th RBI Governor on December 10, 2024. His successor, former revenue secretary Sanjay Malhotra (IAS: 1990, RJ), has since taken over as the 26th RBI Governor.

With an illustrious career spanning over 38 years, Das has held pivotal roles in finance, taxation, industries, and infrastructure, both at the Central and Tamil Nadu state governments. Notably, he was instrumental in the formulation of eight Union Budgets, a testament to his deep understanding of India’s fiscal landscape.

Key Roles Held by Shaktikanta Das:

• Union Economic Affairs Secretary
• Union Revenue Secretary
• Fertilizers Secretary
• India’s Sherpa for G20 negotiations
• Member, 15th Finance Commission

Beyond his administrative roles, Das has been a prominent voice in international financial forums. He has represented India in major global institutions such as the World Bank, Asian Development Bank (ADB), New Development Bank (NDB), and Asian Infrastructure Investment Bank (AIIB). His active participation in platforms like the IMF, G20, BRICS, and SAARC has reinforced India’s standing in global economic discussions.

A Policy Expert with a Global Vision

During his tenure at the RBI, Das played a crucial role in steering India through economic challenges, including managing monetary policy during the COVID-19 pandemic, implementing digital payment reforms, and ensuring financial stability. His leadership was widely credited with maintaining inflation control and boosting investor confidence. His experience in macroeconomic policies, banking regulations, and monetary frameworks makes him a valuable addition to the PMO’s strategic team.

What This Appointment Means for India

Shaktikanta Das’ appointment as Principal Secretary-2 is expected to bring a strategic economic perspective to the PMO, particularly in areas related to fiscal policy, financial reforms, and economic governance. His expertise in handling complex economic challenges, coupled with his experience at the RBI, positions him well to navigate India’s evolving financial and economic landscape.

A postgraduate from St. Stephen’s College, Delhi University, Das remains one of the most influential policy architects in India. His new role further strengthens the Modi administration’s commitment to economic resilienceand robust financial management.

With this strategic appointment, the PMO is set to gain a sharper economic edge, reinforcing India’s trajectory as a major global player. His presence is expected to enhance India’s fiscal discipline, foster investment-driven growth, and shape long-term economic reforms that will define the country’s financial future.