Former RBI Governor Shaktikanta Das Appointed Second Principal Secretary to PM Modi

New Delhi: Former Reserve Bank of India (RBI) Governor Shaktikanta Das was appointed as the second Principal Secretary to Prime Minister Narendra Modi on Saturday, marking an unprecedented development in the Prime Minister’s Office (PMO).

Das, a retired Indian Administrative Service (IAS) officer from the Tamil Nadu cadre, will serve alongside P K Mishra, the current Principal Secretary to the Prime Minister, who is a retired IAS officer from the Gujarat cadre.

According to an official order, Das’s tenure will be "co-terminus" with the term of the Prime Minister or until further orders, whichever is earlier.

"The Appointments Committee of the Cabinet has approved the appointment of Shri Shaktikanta Das, IAS (Retired), as Principal Secretary-2 to Prime Minister with effect from the date he assumes the office," the order stated.

This marks the first time in Indian history that two individuals will simultaneously hold the position of Principal Secretary to the Prime Minister. Both Das and Mishra hail from Odisha.

A Distinguished Career in Economic Policy

At 68 years old, Das brings over 44 years of experience in finance, taxation, investment, and infrastructure.

Key milestones in his career include:

• Serving as Revenue Secretary in the central government.
• Playing a crucial role as Economic Affairs Secretary during the 2016 demonetization.
• Spearheading the implementation of the Goods and Services Tax (GST) on July 1, 2017.
• Serving as a member of the 15th Finance Commission and India's G20 Sherpa post-retirement.

In 2018, following the resignation of Urjit Patel, Das was appointed as the 25th Governor of the Reserve Bank of India (RBI). Initially appointed for a three-year term, his tenure was extended for another three years in 2021, making him the second-longest-serving RBI governor in India’s 90-year history, after Benegal Rama Rau.

He stepped down in December 2024, when Sanjay Malhotra was appointed as the new RBI governor.

Key Contributions as RBI Governor

During his tenure at the Reserve Bank of India, Das was instrumental in shaping monetary policy, financial stability, and economic growth. Some of his key policy decisions included:

• Managing the economic impact of the COVID-19 pandemic, ensuring liquidity and stability in financial markets.
• Cutting the repo rate to a historic low of 4% to support economic recovery during the lockdown.
• Strengthening the regulatory framework for banks and non-banking financial companies (NBFCs).
• Overseeing the highest-ever dividend payout by the RBI to the central government—₹2.11 lakh crore for 2023-24.
• Implementing measures to curb inflation and ensure financial stability.

For his contributions, he was awarded the ‘Central Bank Governor of the Year’ by Central Banking, UK.

International Representation

Beyond India’s financial sector, Das has represented the country in several global economic forums, including:

• International Monetary Fund (IMF)
• G20
• BRICS
• SAARC
• World Bank, Asian Development Bank (ADB), New Development Bank (NDB), and Asian Infrastructure Investment Bank (AIIB)

His appointment as Principal Secretary-2 is expected to bring valuable economic and financial expertise to the Prime Minister’s Office, particularly as India navigates global economic challenges and domestic growth strategies.

PK Mishra’s Continued Role in PMO

While Shaktikanta Das takes on the new role, P K Mishra will continue as the Principal Secretary to the Prime Minister, a position he has held since September 2019.

Mishra previously served as Additional Principal Secretary during PM Modi’s first term and was Union Agriculture Secretary before joining the PMO. His extensive administrative experience and close working relationship with the Prime Minister make him a crucial figure in policy coordination and implementation.

With Das joining the PMO, the dual leadership structure of the Principal Secretary position is expected to enhance decision-making and policy execution in critical economic and administrative areas.

Conclusion

The appointment of Shaktikanta Das as the second Principal Secretary to Prime Minister Narendra Modi marks a strategic move, bringing economic expertise into the highest levels of governance. With PK Mishra continuing in his role, the PMO now has a two-pronged leadership, combining administrative experience and economic policymaking skills to drive India’s growth and development.