Discuss the key function of the Public Accounts Committee (PAC). What steps should be taken to revamp the Public Accounts Committee (PAC) in order to enhance its effectiveness as a true guardian of public funds?

The Government of India Act, 1919 created Public Accounts committee, consisting of 22 members, accountable for financial auditing. Functions of Public Accounts committee (1) Detailed audition of reports tabled by comptroller and auditor general. (2) Examines the technical and legal irregularities and fiscal prudence of government expenditure. (3) Also examines the stocks and accounts of state corporations. (4) It conducts scrutiny of various flagship government schemes and discrepancies in govt allocation and expenditure.

Shortcomings of PAC: (1) The recommendations are non-binding. (2) Conducts 'post-maturity' analysis. (3) The functioning of PAC is not open to public => raises issues of transparency and accountability. (4) Does not concern itself with broader policy question. Measures for Likening PAC: (1) The recommendations should be made mandatory in follow ups. (2) The meetings of PAC should be open to media & public discussion. (3) Analysis of broad policy questions. (4) Amendments to CAG Act, 1971: a) The appointment of CAG should also include consultation with PAC. b) Public-private projects audited by PAC. Thus recommendations should be immediately implemented after research and discussion to ensure a robust mechanism for financial accountability of the executive.