Which of the following is/are a Financial Committee of Parliament in India?

Question

Which of the following is/are a Financial Committee of Parliament in India?

1. Public Accounts Committee

2. Estimate Committee

3. Committee on Public Undertakings

Select the correct answer from the code given below:

1. A. Only 1 and 2
2. B. All 1, 2 and 3 (Correct answer)
3. C. Only 2 and 3
4. D. Only 1

Correct Answer

Option B — All 1, 2 and 3

Detailed Solution & Explanation

The correct answer is All 1, 2 and 3.

Key Points

• Parliament has three financial committees, and all three are listed:
  • 1. Public Accounts Committee ✓
  • 2. Estimates Committee ✓
  • 3. Committee on Public Undertakings ✓
• Hence option (b).

Additional Information

• Composition and character:
  • Public Accounts Committee (PAC) — 22 members (15 Lok Sabha + 7 Rajya Sabha); set up in 1921, the oldest; examines the CAG's audit reports and is described as conducting a "post-mortem" of expenditure.
  • Estimates Committee — 30 members, all from the Lok Sabha; constituted in 1950; suggests economies in expenditure and is called the "continuous economy committee".
  • Committee on Public Undertakings (CPU) — 22 members (15 LS + 7 RS); constituted in 1964 on the recommendation of the Krishna Menon Committee; examines the working of public sector undertakings.
• A Minister cannot be elected to any of the three, and members serve a one-year term.
• By convention the Chairman of the PAC is from the Opposition (since 1967), while the Chairmen of the Estimates Committee and CPU are from the ruling party.
• The PAC and CPU cannot question policy decisions laid down by Parliament — only their implementation.