President Ram Nath Kovind on December 4, 2021 inaugurated the centennial year celebration of the Public Accounts Committee (PAC) in the Central Hall of Parliament.
- The Public Accounts Committee (PAC) is one of the most powerful financial committees of Parliament. The Committee on Public Accounts is the oldest Parliamentary Committee and was first constituted in 1921.
- The Committee consists of 22 Members, 15 Members are elected by Lok Sabha and 7 Members of the Rajya Sabha are associated with it.
- The Speaker is empowered to appoint the Chairman of the Committee from amongst its Members.
- The Committee on Public Accounts is constituted by Parliament each year for examination of accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India, the annual Finance Accounts of Government of India, and such other accounts laid before Parliament as the Committee may deem fit such as accounts of autonomous and semi-autonomous bodies (except those of Public Undertakings and Government Companies which come under the purview of the Committee on Public Undertakings).
GS TIMES IAS PRELIMS 2022 CURRENT AFFAIRS BASICS DAILY ONLINE TEST SERIES: HINDI AND ENGLISH
CLICK HERE DAILY CURRENT AFFAIRS QUIZ FOR STATE CIVIL SERVICES
