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Financial Standing Committee | |
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18th Lok Sabha | |
Founded | 1921 (pre-independence) 1950 (post-independence) |
Country | India |
Leadership | |
Chairperson | K. C. Venugopal |
Chairperson party | Indian National Congress |
Appointer | Lok sabha Speaker |
Structure | |
Seats | 22 Lok Sabha : 15 Rajya Sabha : 7 |
Political Parties | BJP (10) INC (4) |
Election criteria | The members are elected every year from amongst its members of respective houses according to the principle of proportional representation. |
Tenure | 1 Year |
Jurisdiction | |
Purpose | Auditing the revenue and the expenditure of the Government of India Examine the audit report of Comptroller and Auditor General (C&AG) |
Sub-committees | |
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Rules & Procedure | |
Applicable rules | Rule 308 & 309 (page 112 - 113) |
The Public Accounts Committee (PAC) is a committee of selected members of parliament, constituted by the Parliament of India, for the purpose of auditing the revenue and the expenditure of the Government of India. They check that parliament exercises over the executive stems from the basic principle that parliament embodies the will of the people. This committee along with the Estimates committee (EC) and Committee on Public Undertakings (COPU) are the three financial standing committees of the Parliament of India.[1]
It serves as a check on the government especially with respect to its expenditure bill and its primary function is to examine the audit report of Comptroller and Auditor General (C&AG) after it is laid in the Parliament. C&AG assists the committee during the course of investigation. None of its members are allowed to be ministers in the government. The main function of the committee is to ascertain whether the money granted by parliament has been spent by government within the scope of the demand.
The Public Accounts Committee consists of not more than twenty-two members, fifteen elected by Lok Sabha, the lower house of the Parliament, and not more than seven members of Rajya Sabha, the upper house of the Parliament. The members are elected every year from amongst its members of respective houses according to the principle of proportional representation by means of single transferable vote. The chairperson is appointed by the Lok Sabha speaker. The term of office of the members is one year.
At present, the 18th Lok Sabha has Rahul Gandhi as leader of opposition,[2] and Indian National Congress (INC) being largest opposition party has the responsibility of heading the PAC. The current PAC is headed by K.C. Venugopal since August, 2024[3] after Adhir Ranjan Chowdhury, who was the leader of INC in the Lok Sabha.