Being the senior most Secretary under Union Ministry of Finance R P Watal (IAS:1978:AP) has been designated as Finance Secretary. After Rajiv Mehrishi took over as Union Home Secretary it had become mandatory for the Govt to designate the senior Secretary (among five secretaries) as Finance Secretary. Watal, the incumbent Expenditure Secretary is Watal is scheduled to superannuate on February 2016. But being the leader of Modi's Budget 2016-17 team (in principle), Watal may be given three months extension beyond February 28, 2016.