On 1st May 2020, Adhir Ranjan Chowdhury, Congress Leader of Lok Sabha was reappointed as Chairperson of the Parliament’s Public Accounts Committee(PAC) by Lok Sabha Speaker Om Birla.Key Points:
i.The PAC is the oldest Parliamentary Committee in which 15 members from the Lok Sabha and 7 from the Rajya Sabha are elected every year for the 22 member panel of PAC.
ii.The PAC examines the annual financial accounts of the government and others and accounts the sums granted by the parliament for the expenditure of the Government.
Functions of Committee:
i.The committee should verify that the money shown in the accounts were used legally and applicable to the service and purpose for which have been applied.
ii.To examine the audit by the Comptroller and Auditor General(C&AG) of India on the income and expenditure of the autonomous and semi-autonomous bodies
iii.The discussion on financial discipline and principle and determine the examination of questions involving the principles and system.
iv.Examine the reports of C&AG on Revenues Receipts, Government tax administration and cases involving the assessments, tax-evasion, non-levy of duties, misclassification etc.
v.To identify the loopholes in taxation laws and procedures and provide recommendations to check the leakage in revenue.
About C&AG of India:
Comptroller and Auditor General– Rajiv Mehrishi
Headquarters– New Delhi
Constituted in– 1858