Context
The reconstituted Public Accounts Committee (PAC) recently held its meeting and selected various subjects for detailed examination.
About Public Accounts Committee (PAC)
- Public Accounts Committee (PAC), established in 1921, is the oldest parliamentary committee in India.
- It is reconstituted every year and functions with a tenure of one year.
- The committee consists of 22 members, including 15 from the Lok Sabha and 7 from the Rajya Sabha.
- Ministers are not eligible to serve as members of the PAC.
- The Chairperson is appointed by the Speaker of the Lok Sabha from among the Lok Sabha members of the committee.
- Since 1967–68, the position of Chairperson has conventionally been held by a member of the Opposition.
- PAC examines audit reports of the Comptroller and Auditor General (CAG) related to government expenditure.
- It ensures that funds sanctioned by Parliament are utilized legally, efficiently, and for the intended purpose.
- The committee also scrutinizes financial irregularities, losses, and wasteful public expenditure.
