Explained | Parliament’s Public Accounts Committee

Amid controversy surrounding SEBI chairperson Madhabi Buch, the Parliament’s Public Accounts Committee is reviewing the performance of regulatory bodies. Buch is under scrutiny for conflict of interest in the investigation into the Adani Group. The PAC will decide on summoning Buch to address the allegations. The committee has selected various subjects for examination, including regulatory bodies, banking reforms, welfare schemes, energy transition, and public infrastructure charges. The Public Accounts Committee audits government revenue and expenditure, ensuring accountability and transparency. It consists of members elected from Lok Sabha and Rajya Sabha, with the chairperson appointed by the Speaker. The committee plays a crucial role in overseeing government spending and holding the executive accountable.