Committee on Public Undertakings

Committee on Public Undertakings examines the reports and accounts of the PSUs and the CAG audit reports related to PSUs. This committee was established in 1964 on recommendations of Krishna Menon Committee.

Members

Committee on Public Undertakings has 22 members from both the houses of parliament {15 from Lok Sabha and 7 from Rajya Sabha}. These members are elected by the members of parliament from amongst themselves via principle of proportional representation by means of a single transferable vote, so that all parties get due representation. Term of the members is one year. However, the chairman of this committee, appointed by Lok Sabha speaker is always from Lok Sabha. A minister cannot become chairman of this committee also.

Functions

Committee on Public Undertakings examines the reports and accounts of public undertakings and also the CAG audit reports on public undertakings. It ascertains if the affairs of the PSU is being managed as per sound business and commercial principles and practices.  The companies include all the Government Companies whose Annual Reports are placed before the Houses of Parliament under section 619A (1) of the  Companies Act, 1956 and statutory Corporations whose names have been specified in the Fourth Schedule to the Rules of Procedure come within the purview of the Committee.