Public Accounts Committee (PAC)

Public Accounts Committee (PAC): Recently, the Parliamentary Public Accounts Committee (PAC) has raised concerns about issues faced by MSMEs and exporters under the GST regime.

• About PAC: It is a committee of selected members of parliament, constituted by the Parliament of India.
  • Established: 1921 with the purpose to audits the revenue and expenditure of the Government of India to ensure efficient and legal use of public funds.
  • Key Functions: Examines the CAG audit report on government expenditure.

  oEnsures money sanctioned by Parliament is spent properly.

  oInvestigates financial irregularities, losses, and inefficiencies in government spending.

  • Membership: 22 members (15 Lok Sabha, 7 Rajya Sabha).

  o Chairperson: A Lok Sabha MP, traditionally from the Opposition.

  o Term: One year.

  o Ministers cannot be members of the PAC.