There is a lot of discussion in New Delhi's political circles these days. People believe that the Modi government is preparing for its biggest cabinet reshuffle so far. And one question is being asked everywhere: Will former RBI Governor Shaktikanta Das take over Nirmala Sitharaman's position as Finance Minister?
How Did This Discussion Begin?
The speculation started after several recent meetings between Prime Minister Narendra Modi, President Droupadi Murmu, and Home Minister Amit Shah. Soon after these meetings, reports about a cabinet reshuffle began appearing one after another.
The reason is also clear. The NEET paper leak and the CBSE re-evaluation controversy have affected the government's image. Many believe this reshuffle could be an attempt to improve that situation.
According to reports, the decision may come soon after PM Modi returns from his Seychelles visit, around June 28 or 29, 2026. George Kurian's resignation has further increased the speculation.
Sources within the BJP and NDA say that this reshuffle is not just about changing ministers. It is expected to set the direction for Modi 3.0 and prepare the roadmap for the 2029 Lok Sabha elections.
Shaktikanta Das — One Name, Endless Discussions
The name being discussed the most is Shaktikanta Das. He is currently serving as the Principal Secretary in the Prime Minister's Office. According to sources, the government is seriously considering him for the Finance Ministry.
What about Nirmala Sitharaman? Reports suggest that she could be shifted to the Education Ministry, replacing Dharmendra Pradhan.
PM Modi is believed to feel that Das is the right person to handle India's economy, especially at a time when global financial conditions remain uncertain. Looking at his career, this belief seems understandable. He has over 40 years of experience and has been involved in preparing eight Union Budgets.
Who Is Shaktikanta Das?
Shaktikanta Das was born on February 26, 1957, in Bhubaneswar. He completed his BA and MA in History from St. Stephen's College, Delhi, and later earned a degree in Public Administration from the University of Birmingham.
He is a 1980-batch IAS officer from the Tamil Nadu cadre. Although he studied History, most of his career has been focused on finance and economic administration.
He served as the 25th RBI Governor from December 2018 to December 2024. During his tenure, he handled major challenges such as the COVID-19 pandemic, rising global inflation, and several financial reforms with a calm and steady approach.
Earlier, he also served as a member of the 15th Finance Commission and as India's G20 Sherpa.
Internationally, he has represented India at organizations such as the World Bank, ADB, IMF, and BRICS. He also received an A+ global rating for his performance as RBI Governor.
One Big Question — He Is Not an MP
Yes, and this is an interesting point.
At present, Shaktikanta Das is not a member of either House of Parliament. However, the Indian Constitution allows a person to become a minister even if they are not an MP, provided they become a Member of Parliament within six months.
Reports suggest that the BJP may send him to the Rajya Sabha from Uttar Pradesh, where 10 seats are expected to become vacant in November 2026.
Has This Happened Before?
Yes. This would not be the first time.
C.D. Deshmukh was the first Indian RBI Governor (1943–49) and later became Finance Minister (1950–56).
Manmohan Singh served as RBI Governor (1982–85), then Finance Minister (1991–96), and later Prime Minister (2004–14). He remains the only person to have held all three positions.
If Shaktikanta Das is appointed, he would become the third member of this exclusive group.
What Will Happen to Nirmala Sitharaman?
Reports suggest that she is unlikely to be removed from the cabinet. Doing so could create a negative political message for the government.
She has been Finance Minister since 2019, and the government is not expected to present her work as a failure.
Instead, the plan is reportedly to move her to the Education Ministry and present it as a new responsibility rather than a demotion. Officially, it would not be seen as a downgrade, though politically, opinions may differ.
What Else Could Change?
The speculation is not limited to the Finance Ministry. Several other changes are also being discussed:
Hardeep Singh Puri may be dropped from the cabinet.
Anurag Thakur may return.
States such as Uttar Pradesh, Uttarakhand, Punjab, and West Bengal may receive greater representation.
Raghav Chadha could reportedly be considered for a cabinet position after helping bring seven AAP MPs into the NDA.
Shrikant Shinde, son of Eknath Shinde, may also receive a cabinet berth after reportedly helping bring six MPs from the Uddhav faction.
Modi's Style
This approach matches PM Modi's known style of appointing domain experts to important ministries instead of relying only on career politicians.
The appointment of S. Jaishankar as External Affairs Minister is often seen as an example of this approach. If Shaktikanta Das is appointed, it would follow the same pattern.
What Could Be the Impact on the Economy?
If Shaktikanta Das becomes Finance Minister, financial markets could react positively.
His reputation for maintaining fiscal discipline, following a balanced economic approach, and enjoying strong global credibility may provide confidence to investors and businesses.
Conclusion
So far, there has been no official confirmation. Everything remains speculation.
However, the signals—including the high-level meetings, political pressure following the examination controversies, and Shaktikanta Das's name repeatedly appearing in reports—have made the discussion stronger than an ordinary rumor.
Now the biggest question is whether Shaktikanta Das will actually become India's next Finance Minister.
One thing is certain: Modi 3.0's biggest political reset may not be far away
FAQ
Q.1. Is Shaktikanta Das going to become the new Finance Minister of India?
Currently, this is only political speculation. According to media reports, his name is being discussed in the potential reshuffle of the Modi cabinet, but no official confirmation has been made by the government or the BJP.
Q. 2. What position is Shaktikanta Das currently working in?
After completing his tenure as the 25th Governor of the Reserve Bank of India (RBI), Shaktikanta Das is currently serving as the Principal Secretary to Prime Minister Narendra Modi.
Q. 3. Can someone become the country's Finance Minister without being a Member of Parliament (MP)?
Yes, according to the Indian Constitution, any person can take oath as a minister without being an MP. However, it is mandatory for them to be elected to either house of Parliament (Lok Sabha or Rajya Sabha) within 6 months of taking office.
Q. 4. If Shaktikanta Das becomes the Finance Minister, what will happen to Nirmala Sitharaman?
According to discussions in political circles, if this reshuffle happens, the current Finance Minister Nirmala Sitharaman might be assigned another big responsibility, such as the Ministry of Human Resource Development (HRD / Ministry of Education).
Q. 5. When is the Modi Cabinet Reshuffle expected to happen?
According to sources and media reports, this reshuffle in the Union Cabinet can be seen before the start of the upcoming Monsoon Session of Parliament.
Q. 6. Why did the rumors of this sudden cabinet reshuffle become so intense?
Discussions about this reshuffle have become extremely intense in political circles since the recent high-level meetings of Prime Minister Narendra Modi and Union Home Minister Amit Shah with President Droupadi Murmu.
Q. 7. How is Shaktikanta Das's administrative and economic experience?
He is a retired IAS officer of the 1980 batch. He has more than 4 decades of administrative experience. Apart from being the RBI Governor, he has also been the country's Economic Affairs Secretary, Revenue Secretary, and a member of the 15th Finance Commission.
Q. 8. Does Shaktikanta Das have any past experience in policymaking or preparing the budget?
Yes, during his long tenure in the Ministry of Finance, Shaktikanta Das was directly and deeply involved in the process of preparing 8 Union Budgets.
Q. 9. Was Shaktikanta Das in the Finance Ministry at the time of demonetization?
Yes, when demonetization was implemented in the country in the year 2016, Shaktikanta Das was the most senior officer (Secretary) in the Department of Economic Affairs (DEA) of the Finance Ministry, and he played a key role in its implementation.
Q. 10. Why is Shaktikanta Das's name being discussed as the new Finance Minister?
Amid global economic uncertainties, the government needs a highly experienced economic expert to keep the Indian economy strong. Because of his work in guiding the Indian economy and banking sector in the right direction as RBI Governor during the Corona pandemic, his name is running at the forefront.