Parliamentary Finance Commitees-Important notes for SSC,UPSC,Combined Defence Exams.

OpenGuide- Indian Polity is an important subject for the exams of SSC,Kerala PSc,RRB,UPSC and other competitive exams.Questions are asked from all the sections of Indian Polity.Given below are short notes of Financial Committees from the topic parliamentary committees which are important for the exams of PSc,UPSC,RRB and Combined Defense Exams.

There are three types of Finance Committee

Public Accounts Committee:-

1) The committee has 22 members(15 loksabha and 7 from Rajya Sabha)

2)The members are elected by the Parliament every year from amongst its members according to the principle of proportional representation through single transferrable vote.The term of the members is one year.

3)The chairman is selected among the members by the speaker.He is from the opposition.

4)The function of the committee is to examine the annual reports of the Comptroller and Auditor General of India(CAG)which are laid before the parliament by the President.

5)Comptroller and Auditor General Of India acts as a guide,friend and philosopher of the committee.

Estimates Committee:-

1)The estimates committee was recommended by John Mathai,the then finance minister.

2)Committee has 30 members.All members are from Lok Sabha

3)The members are selected through proportional representation through single transferrable vote.

4)The chairman of the committee is invariable from the ruling party elected by the speaker.

5)The function of the committee is to examine the estimates included in the budget and suggest Economies included in the budget and suggest economies in public expenditure.

Committee on Public Undertakings:-

1)The committee was created on the recomendation of the Krishna Menon Committee.

2)It has a total of 22 members(15 from loksabha 17 from rajya sabha)

3)The members of the committee are elected every year by the parliament through the process of proportional representation through single transferrable vote.

4)The term of the office is one year

5)The function of the committee is to examine the reports and accounts of public undertakings.