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With reference to Public Accounts Committee (PAC), consider the following statements:
1. The members of PAC are elected from the Lok Sabha only.
2. It examines the annual audit reports of the CAG.
3. The committee examines public expenditures from legal point of view only but not from the point of view of economy.
Which of the statements given above is/are correct?
Only One statement is correct
Only two statements are correct
all three statements are correct
All statements are incorrect
Statement 1 is incorrect. The members of the committee are elected from both Lok Sabha and Rajya Sabha. It consists of 22 members (15 from the LS and 7 from RS). Statement 2 is correct. PAC examines the audit reports of CAG. Statement 3 is incorrect. PAC examines public expenditures not only from legal point of view but also from the point of view of economy.
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