About Public Accounts Committee:
- It is the oldest parliamentary committee in India which was established in 1921.
- It is constituted every year.
- The Chairperson is appointed by the Speaker from amongst its Members of Lok Sabha.
- The Speaker, for the first time, appointed a Member of the Opposition as the Chairperson of the Committee for 1967-68.
- Purpose: Audits the revenue and expenditure of the Government of India to ensure public funds are spent efficiently and legally.
- Functions of PAC:
- It examines the CAG audit report on government expenditure.
- It ensures money sanctioned by Parliament is spent properly.
- It investigates financial irregularities, losses, and inefficiencies in government spending.
- Members:
- It consists of 22 members (15 from Lok Sabha, 7 from Rajya Sabha).
- Chairperson: A Lok Sabha MP, traditionally from the Opposition.
- Term: One year.
- Ministers cannot be members of the PAC.
