Public Accounts Committee Review

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary aim of the Public Accounts Committee's review of regulatory bodies?

To enhance the effective use of public funds and improve governmental oversight (correct)

To investigate private sector regulatory practices

To amend existing regulations governing public utilities

To increase the number of regulatory bodies in India

Which regulatory bodies are specifically mentioned as part of the PAC's initiative?

Telecom Regulatory Authority of India and Securities and Exchange Board of India (correct)

Competition Commission of India and Food Safety and Standards Authority of India

Reserve Bank of India and Insurance Regulatory and Development Authority

National Biodiversity Authority and Central Electric Authority

How many members currently compose the Public Accounts Committee?

26 members

22 members (correct)

20 members

24 members

What is one of the functions of the Public Accounts Committee?

To examine accounts showing the appropriation of funds granted by the House (C) Signup and view all the answers

When was the Public Accounts Committee first introduced?

1921 (D) Signup and view all the answers

Which of the following is NOT a Financial Parliamentary committee in India?

Committee on Government Expenditure (C) Signup and view all the answers

Who appoints the Chairman of the Public Accounts Committee?

The Speaker of Lok Sabha (C) Signup and view all the answers

What must the members of the CAG committee refrain from doing?

Acting as government ministers (C) Signup and view all the answers

What prompted the Public Accounts Committee to initiate a review of regulatory bodies?

To address allegations of conflict of interest against regulatory leaders (D) Signup and view all the answers

Which of the following articles from the Constitution empowers the Public Accounts Committee?

Article 105 and 118 (D) Signup and view all the answers

What is a key subject selected by the PAC for suo-motu investigations?

Performance review of regulatory bodies established by Act of Parliament (A) Signup and view all the answers

How many members are elected from the Lok Sabha to form the Public Accounts Committee?

15 (C) Signup and view all the answers

Which body is responsible for appointing the Chairman of the Public Accounts Committee?

The Speaker of Lok Sabha (B) Signup and view all the answers

In which year was the Public Accounts Committee first introduced?

1921 (A) Signup and view all the answers

What is one of the PAC's primary functions concerning financial accounts?

Examine accounts showing the appropriation of funds (A) Signup and view all the answers

Which of the following describes a restriction on members of the CAG committee?

They cannot hold positions as government ministers (D) Signup and view all the answers

What is the duration of the term for members of the Public Accounts Committee?

1 year (D) Signup and view all the answers

Which of the following is NOT a primary focus of the Public Accounts Committee?

Oversight over trade agreements (A) Signup and view all the answers

Study Notes

Public Accounts Committee Review of Regulatory Bodies

The Public Accounts Committee (PAC) is reviewing the performance of regulatory bodies like SEBI and TRAI.
This review aims to enhance the effective use of public funds and improve governmental oversight.
The decision was made amid allegations of conflict of interest against the SEBI chief.
The PAC is focused on enhancing the effectiveness of regulatory bodies and ensuring accountability.
The Public Accounts Committee was introduced in 1921 with origins in the Government of India Act, 1919.
The PAC is one of three Financial Parliamentary Committees in India, alongside the Estimates Committee and the Committee on Public Undertakings.
The committee is responsible for auditing the revenue and expenditure of the Government of India.
The PAC comprises 22 members, with a one-year term.
The committee examines accounts of appropriated funds, including the annual Finance Accounts, and reviews other accounts deemed appropriate.

Public Accounts Committee (PAC) Review of Regulatory Bodies

The Public Accounts Committee (PAC) has initiated a review of regulatory bodies like SEBI and TRAI.
The review aims to improve the effective use of public funds and strengthen governmental oversight.
This decision comes after controversies about conflict of interest allegations against the SEBI chief.
The PAC has chosen various subjects for investigations, including the performance review of regulatory bodies established by Parliament and the regulation of fees and charges on public infrastructure.

Public Accounts Committee (PAC)

The PAC is a parliamentary committee responsible for auditing the government's revenue and expenditure.
It is one of three Financial Parliamentary committees, alongside the Estimates Committee and the Committee on Public Undertakings.
The PAC was introduced in 1921, following its mention in the Government of India Act, 1919.
It is constituted annually with 22 members: 15 elected by the Lok Sabha Speaker and 7 by the Rajya Sabha Chairman.
The PAC serves a one-year term and has the power to examine government expenditure and accounts.
It can review other government accounts it deems appropriate, excluding those related to Public Undertakings, which are assigned to the Committee on Public Undertakings.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Explore the Public Accounts Committee's ongoing review of regulatory bodies like SEBI and TRAI, aimed at enhancing accountability and the effective use of public funds. This quiz covers the origins and functions of the PAC within the Indian parliamentary framework, including its role in auditing government expenditure.