Question

Which of the following are Financial Committees of the Indian Parliament?

(A) Estimates Committee

(B) Public Account Committee

(C) Committee on Public Undertakings

(D) Joint Committee on Salaries and Allowance for Members of Parliament

Select the correct answer using code given below:

1. (A), (C) and (D)
2. (A), (B) and (D)
3. (A), (B) and (C)
4. (B), (C) and (D)

Answer 1

Correct Answer - Option 3 : (A), (B) and (C)

The correct answer is (A), (B) and (C).

• Financial Committees of Indian Parliament are;​
  • Estimates Committee
  • Public Account Committee
  • Committee on Public Undertakings

•  Financial Committees of Indian Parliament ​
  • Estimates Committee
    • ​The Estimates Committee is a committee of selected members of parliament, constituted by the Parliament of India.
    • The main intent of the committee is to scrutinise the functioning of government ministries and departments in terms of expenditure and utilisation of funds.
    • The functions of the committee as enshrined in Rule 310 of Rules of Procedure and Conduct of Business in Lok Sabha.
  • Public Account Committee
    • ​The Public Accounts Committee 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.
    • The PAC has a key role to play in ensuring accountability and transparency in the way Government agencies allocate, spend and manage their finances.
  • Committee on Public Undertakings
    • ​The Committee on Public Undertakings is a committee of selected members of parliament, constituted by the Parliament of India.
    • The main intent of the committee is to examine the reports and accounts of the public sector undertakings as specified in the fourth schedule of the Rules of Procedure and Conduct of Business in Lok Sabha.

• Joint Committee on Salaries and Allowance for Members of Parliament
  • The Joint Committee was constituted to frame rules under the Salaries and Allowances of Members of Parliament Act, 1954. It consists of 10 members from Lok Sabha and 5 from Rajya Sabha.
  • The members of the Joint Committee elect its Chairman.