In a move that underscores the trust and confidence Prime Minister Narendra Modi places in seasoned economists, former RBI Governor Shaktikanta Das has been appointed as the Principal Secretary to the Prime Minister's Office. This strategic appointment comes following Das's retirement from the Reserve Bank of India in December 2023, where he served a noteworthy six-year term, steering India through turbulent economic conditions and pivotal reforms.
Das's tenure at the RBI was marked by robust measures to maintain financial stability, especially during the challenging years of the COVID-19 pandemic. His effective handling of monetary policies and liquidity measures earned him accolades both domestically and abroad. Among his significant contributions was the rollout of various regulatory frameworks designed to support economic recovery and mitigate the pandemic's financial shocks, not a small feat by any measure.
Before his stint as RBI Governor, Das held significant roles in the Indian government, notably as the Secretary of Economic Affairs from 2017 to 2018. During this period, he made a substantial impact by overseeing the implementation of key economic reforms like GST and demonetization, which were fundamental in reshaping India's economic landscape.
Shaktikanta Das's expertise isn't limited to domestic reforms. He represented India on the global stage in forums such as the International Monetary Fund (IMF), the G-20, and BRICS. His involvement in international negotiations, including the 1991 IMF bailout package, showcased his ability to navigate complex economic challenges.
Born in 1957 in Odisha, Das has an extensive background in public administration, holding a Master’s degree from the University of Birmingham. His association with the Indian Administrative Service (IAS) began in 1980. Over the years, he has served in various capacities within the state government of Tamil Nadu as well as the central government. This extensive experience in both local and national bureaucratic circles enriches his understanding of India's economic mechanics.
Das’s switch to the role of Principal Secretary is seen as part of Prime Minister Modi's ongoing strategy to surround himself with individuals who have proven track records and whom he trusts deeply. This pattern of appointing seasoned and tested officials suggests a consistency in Modi's approach to governance, ensuring that his administration is buoyed by expertise and steady guidance.