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With reference to Public Accounts Committee, which of the following statements is/are correct ?
1. Public Accounts Committee submits its report to the Lok Sabha.
2. Public Accounts Committee consists of 15 members from Rajya Sabha.
Select the correct answer from the code given below :
Code :
Explanation
The Public Accounts Committee (PAC) is one of the three financial standing committees of the Parliament. Statement 1 is correct because the committee submits its findings and reports to the Speaker of the Lok Sabha, who then causes the report to be laid before the Lok Sabha. Statement 2 is incorrect because the PAC consists of 22 members in total, with 15 members elected from the Lok Sabha and 7 members from the Rajya Sabha. The members are elected annually from amongst the members of the respective Houses according to the principle of proportional representation by means of the single transferable vote. The primary function of the PAC is to examine the audit reports of the Comptroller and Auditor General (CAG) of India.