Recently, President Ram Nath Kovind on Saturday inaugurated the centennial year celebration of the Public Accounts Committee in the Central Hall of Parliament.
On the 100 year celebration of the Public Accounts Committee of Parliament, The Vice President urged the PAC to reinvent itself to more effectively ensure financial discipline in the context of the Union Government's budgetary expenditure increasing from a mere 197 crore in the first Budget to 35 lakh crore now, marking an increase of 17,766 times, making its monitoring that much more complex and challenging.
Public Account Committee
Founded:- 1921
Purpose:- Auditing the revenue and the expenditure of the Government of India.
Chairman:- Adhir Ranjan Chowdhury
- Appointed by the Lok Sabha Speaker
- Current Speaker of the Lok Sabha is "Om Birla".
Members:- 22(Rajya Sabha-07, Lok Sabha-18)
- The Members are elected every year, according to the principle of proportional representation by means of Single Transferable Vote.
- The PAC is one of the most powerful financial committees of Parliament.
- Its primary function is to examine the audit report of CAG after it is laid in the parliament.
- CAG also assists the Public Account Committee during the course investigation of expenditure of Government.
- The Members of the Committee not allowed to be ministers.
- 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.
