“Shaktikanta Das Namded PM Modi’s Principal Secretary: A Daring Move that Recreates Economics in India?”
The latest news of Shaktikanta Das, the former celebrated RBI head, being made the Mr. Modi’s Principal Secretary has caught attention and drawn both praise and criticism from economists and political figures alike. This information was given on Thursday and created a lot of buzz that is impossible to ignore. Wondering if Das’s economic intelligence is sharp enough to shift India’s policy structure? Read on for more details.
Das’s Transition to Raisina Hill is Quite Significant for the Economy
To many’s surprise, Das has been able to successfully climb to the top of the bureaucratic ladder as a renowned figure. Having held one of the most controversial turnarounds in India’s economy, demonitization, during his term, he has managed to soak his country India with COVID, globally inflate, and maintain calm and rational. According to many experts, Modi’s move to select one of the most strategic positions in PMO isn’t actually baffeling.
As told by political analyist Rajeshwari Nair, “He is not just a gifted hand with power but also possesses accuracy. His appointment shows Modi’s intentions focusing on progress ahead of the elections scheduled in 2024.”
Disappointment and Joy Combined: Where Does the Truth Lie?
Public has a controversial view of the matter as they embrace the news:
Optimists consider it a ‘triumph for economic realism’ as they remember Das’s bold rate cuts during his term which aided in saving multitudes of businesses during the pandemic.
Skeptics are uncertain regarding a bureaucrat’s ability to maneuver within the PMO’s charged political environment, with Vivek Kaul posting, “Will he be able to keep his autonomy?”
PM Modi’s followers are overjoyed, taking to social media with #DasForIndia to flex their support for PM Modi’s ‘no-nonsense’ leadership approach, a phrase which is now trending.
On the other hand, opposition leaders are skeptical, asking, “Why put RBI stalwart in a political position?” as Congress spokesman Abhishek Singhvi seeks accountability.
What’s in Store For Das — And For India?
The multi-directional approach Das has prepared will not go without a hitch.
Revive the Economy: Find a way to resolve inflation, unemployment and low foreign direct investment.
Create A Policy Infrastructure: Strengthen collaboration between RBI and the Central government.
Create Global Relations: Position India firmly within trade conflicts and control climate finances.
According to insiders, Das’s top concern is said to be a growth plan for Modi’s ideal third term. Can he shift from being the head of RBI to outdoing expectations from the PMO? Only the future holds the answer.
A Culminating Point: Building A Legacy
From being an IAS officer in Tamil Nadu to the Head of RBI, and now one of PM Modi’s key associates, Das has proven to be remarkably intelligent and persistent. While it remains to be seen how he will adapt from crafting monetary policies to general policymaking, one thing is for sure: India’s economic landscape has changed forever.