Watal a 1978-batch Andhra Pradesh cadre IAS officer.
Headed by NITI Aayog member Bibek Debroy, the EAC includes NITI Aayog's Principal Advisor Ratan Watal as its member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members.
The proposed bullet train will run between Mumbai and Ahmedabad.
Among possible new members, former chief economic advisor Arvind Virmani's name is doing the rounds.
Bureaucrats heading disinvestment and financial services usually don't get appointed as finance secretary.
Sajjid Chenoy, India economist at JP Morgan is the new part-time member.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
'Whatever happens in any part of the world affects us.'
Arun Jaitley addressed a post-Budget press conference.
Jaitley's team presents a quintessential mix of foreign-educated, intellectual technocrats and seasoned bureaucrats
Mehbooba wants a congenial political atmosphere and everybody's support before taking the reins of power; hence the delay in government formation. Aditi Phadnis opines.
Fiscal situation better but spending cuts likely in FY16 too.
'Poor home work, and a subsequent loss of nerve.' 'This sums up the Modi government's current travails, the stall in key sectors, fading momentum, irritability,' points out Shekhar Gupta.
Watal panel had suggested an independent payments regulator be set up.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.