Q. With reference to the Public Accounts Committee (PAC), how many of the following statements are correct?
1. The Chairperson of the PAC is selected from the opposition.
2. PAC could not summon officials of regulators without evidence.
3. Members of the PAC are elected for a term of two years.
Select the correct answer using the codes given below:
Answer: B
Notes:
Explanation –
Statements 1 and 2 are correct. Traditionally, the Chairperson of the PAC is appointed by the Speaker of the Lok Sabha and is usually a member from the opposition party. The Comptroller and Auditor-General of India (CAG) could not audit SEBI without a mandate from the Centre, and similarly, the PAC could not summon officials of regulators without evidence of “flaws” in finances provided by the government.
Statement 3 is incorrect. Members of the PAC are elected annually, with each member serving a term of one year.
Source: The Hindu
