A majority of the members of this parliamentary panel, which is headed by an opposition leader, are from the ruling NDA. Kharge, an MP from Gulbarga (Karnataka), is the leader of Congress party in Lok Sabha.
It is the oldest parliamentary committee that examines the accounts showing the appropriation of sums granted by Parliament for expenditure of Government of India and such other accounts of autonomous and semi-autonomous bodies.
In the past, the PAC has been chaired by eminent Parliamentarians like Atal Bihari Vajpayee, Jyotirmoy Basu, PV Narasimha Rao and R Venkataraman.
Among other key panels, Lok Sabha speaker Sumitra Mahajan has also re-appointed veteran BJP leader Murli Manohar Joshi as Chaiman of the Parliamentary Committee on Estimates. Another veteran BJP leader Shanta Kumar has been renamed Chairman of the Parliamentary Committee on Public Undertakings respectively.
All the three financial committees will have fresh one-year tenures, starting today.
The panel on estimates, which is also called the 'continuous economy committee', suggests changes in policy or administrative framework to bring efficiency in expenditure.
The panel on public undertakings examines the reports and accounts of PSUs and also the CAG audit reports on public sector enterprises. It also ascertains whether PSUs are being managed as per sound business and commercial principles and practices.
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