Shaktikanta Das Appointed as Second Principal Secretary to PM Narendra Modi

New Delhi, February 10, 2025: Former Reserve Bank of India (RBI) Governor Shaktikanta Das has been appointed as the Second Principal Secretary to Prime Minister Narendra Modi. The Appointments Committee of the Cabinet (ACC) approved his appointment, and his tenure will be co-terminus with the Prime Minister’s term or until further orders.

With this appointment, Das will work alongside P.K. Mishra, who continues to serve as Principal Secretary-1 to the Prime Minister.

Details of Shaktikanta Das’s Appointment

• Official Designation: Principal Secretary-2 to PM Narendra Modi
• Approval Authority: Appointments Committee of the Cabinet (ACC)
• Tenure: Co-terminus with the PM’s term or until further notice
• Predecessor: This is a newly created position, complementing P.K. Mishra’s role as Principal Secretary

Shaktikanta Das: A Veteran Bureaucrat with Extensive Experience

Shaktikanta Das, a retired IAS officer of the Tamil Nadu cadre, has held several high-profile positions in the Indian government. His vast experience in economic policymaking, financial regulation, and public administration makes him a valuable addition to the Prime Minister’s core team.

Key Positions Held by Shaktikanta Das

• Governor of the Reserve Bank of India (2018–2024)
• India’s G20 Sherpa
• Member of the 15th Finance Commission
• Secretary, Department of Economic Affairs
• Secretary, Department of Revenue

Impactful Tenure as RBI Governor (2018–2024)

As the 25th Governor of the Reserve Bank of India, Das played a crucial role in shaping India’s monetary policy and economic resilience during his tenure.

Handling the COVID-19 Economic Crisis

During the COVID-19 pandemic, Das implemented monetary easing measures to support the economy:

• Reduced the policy repo rate to a historic low of 4% to facilitate credit flow.
• Maintained low-interest rates for nearly two years to drive post-pandemic recovery.
• Introduced liquidity infusion measures to support businesses, banks, and NBFCs.

Post-Pandemic Economic Recovery

As India’s economy rebounded, Das and the Monetary Policy Committee (MPC) took decisive steps to control inflation and stabilize growth:

• Raised interest rates from May 2022 to curb inflation.
• Ensured India’s GDP growth remained above 7% in the last four years of his tenure.
• Strengthened financial sector stability through regulatory interventions.

What Does This Appointment Mean for the Modi Government?

With the 2024 Lok Sabha elections securing a third term for PM Narendra Modi, economic management remains a top priority for the government. The appointment of Shaktikanta Das as Principal Secretary-2 signals a strong focus on economic governance, financial reforms, and macroeconomic stability.

As Principal Secretary-2, Das is expected to:

• Advise on economic and financial policies to drive India’s growth.
• Coordinate with key ministries on fiscal and monetary matters.
• Enhance investor confidence with a stable regulatory environment.
• Support India’s global economic diplomacy, leveraging his experience as G20 Sherpa.

A Strategic Move for Economic Governance

The appointment of Shaktikanta Das as the Second Principal Secretary to PM Modi reflects the government’s commitment to strong economic policymaking. His expertise in monetary policy, fiscal strategy, and governance reforms will be instrumental in shaping India’s economic future.