Committee On Public Undertakings

The Indian Parliament established the committee known as the Committee on Public Undertakings. The public sector enterprises (PSUs) as specified in the fourth schedule of the Lok Sabha Rules of Procedure and Conduct of Business are the focus of the committee's investigation. A particular kind of financial committee is the Committee on Public Undertakings, which was founded in 1964 in response to the Krishna Menon Committee's recommendations.

 

•    Analyze financial documents and reports from the public sector.

 

•    Analyze the reports on public undertakings from the CAG and auditor general.

 

•    Check to see if the affairs of public companies are managed in accordance with sound business principles and ethical commercial practices.

 

•    Carry out any additional responsibilities for public enterprises that the speaker may from time to time delegate to the public accounts and estimates committees.

 

•    The CAG audit reports on public undertakings as well as the financial statements and reports of public undertakings are evaluated by the Committee on Public Undertakings.

 

•    It examines if the PSU's affairs are managed in accordance with strong commercial and business principles and practices.

 

•    The Committee has jurisdiction over all Government Companies whose Annual Reports are submitted to the Houses of Parliament pursuant to section 619A (1) of the Companies Act of 1956 and over Statutory Corporations whose names are included in the Fourth Schedule to the Rules of Procedure.

 

•    Important matters of public policy as contrasted to the corporate or commercial responsibilities of public corporations.

 

•    Every day administration.

 

•    Anything for which a special act under which a particular public activity is constituted establishes machinery.

 

•    It can only assess reports for a finite set of PSUs. The committee cannot review the reports of more than 10–12 PSUs in a single year.

 

•    It only focuses on the reports. It is powerless to influence how public utilities run. Its work is essentially a post-mortem as a result.

 

•    The committee is unconcerned with any technical facets of PSUs because it lacks technical expertise.

 

•    Ministers are not required to follow any of the committee's recommendations because they are all just suggestions. 

 

The Committee on Public Undertakings has a significant role in assessing the financial statements and audit reports of public undertakings. Its recommendations ought to be taken into account to ensure that the parliamentary system of government operates smoothly.