Shri. Ratan P. Watal is Member Secretary of the Economic Advisory Council to the Prime Minister and also Principal Adviser, NITI Aayog (National Institution for Transforming India). As an Indian Administrative Service (IAS) Officer, Mr Watal has served in various capacities in Government of India, Prime Minister’s Office, International Monetary Fund and Government of Andhra Pradesh. He has a unique exposure to Government policy making and working of the Union Government in the areas of Human Resources Development, Renewable Energy, Petroleum and Natural Gas Regulation, Defence Expenditure and External Affairs. He was a member of the Space Commission and the Atomic Energy Commission and a Director in the National Highways Authority of India. Before joining NITI Aayog, he was Finance Secretary in the Ministry of Finance till April 2016. He briefly held additional charge of the Ministry of Home Affairs during his Finance Ministry tenure.
Mr. Watal is a post graduate in Economics. He has received training at the National Academy of Administration in India and at the International Institute of Public Administration, Paris, where he received a PG diploma in International Relations. He is proficient in English, Hindi, French, Telugu and Urdu.
He handled four Union Government budgets as Secretary, Expenditure and steered a smooth transition in the accounting norms of the Government. He also effectively facilitated prudent fiscal management during his tenure in the Ministry of Finance.
In NITI, he chaired the Committee to Review the Framework for Digital Payments set up by Ministry of Finance on 23rd August 2016. His committee submitted the final report to Finance Ministry on 9th December 2016. The report was well received and its recommendations are currently under implementation. He is also Chairing Committees relating to Merger of Tribunals, rationalisation of Autonomous Bodies of the Central Government and a Committee looking at transformation of India’s Gold Market. He is also looking at issues relating to Resources Efficiency and Circular Economy apart from the work of the EAC to PM.