BJP MPs oppose KC Venugopal in first PAC meeting 2026-27 (Img: Dynamite News)
New Delhi: Even though Parliament is not in session at present, meetings of different parliamentary committees are being held on a regular basis.
In this connection, the first meeting of the Public Accounts Committee (PAC) for 2026-27 was held at the Parliament Annexe on Friday. Discussions were proposed on subjects such as “Performance Review of Regulatory Bodies” and “Reforms in the Banking and Insurance Sector.”
During the meeting, a proposal to summon heads of regulatory bodies, including the SEBI Chief, RBI Governor, IRDAI Chairman and PFRDA Chairman, was discussed. However, senior BJP MPs Dr. Nishikant Dubey, Jagdambika Pal, Aparajita Sarangi, Sudhanshu Trivedi, K. Laxman and Balashowry Vallabhaneni strongly opposed the move.
According to the Dynamite News correspondent, these MPs argued that the matter falls outside the jurisdiction of the Public Accounts Committee. They maintained that the PAC cannot summon regulators, as such powers rest with the Parliamentary Standing Committee on Finance.
The committee comprises 22 members from both the Lok Sabha and Rajya Sabha. Congress MP K. C. Venugopal is the Chairman of the committee.
After the meeting, Venugopal posted on social media platform X, “Chaired the first meeting of the Public Accounts Committee (2026-27). The previous PAC (2025-26) successfully presented 26 reports to Parliament. The heavy backlog in the Audit Para Monitoring System is a cause for serious concern, with 1500+ ATNs being pending before various ministries/departments. In light of the complex nature of public expenditure in our country, a more cooperative and quicker response to audits from the C&AG is the need of the hour.”
The Public Accounts Committee (PAC) is one of Parliament’s most important standing committees and was established under the Government of India Act of 1919. The committee’s primary responsibility is to examine audit reports submitted by the Comptroller and Auditor General (CAG). It ensures that government expenditure conforms to parliamentary approvals and legal provisions, and that there is no misuse, wastage or irregular expenditure of public funds.
The PAC also reviews financial irregularities, excess expenditure, financial statements of public sector undertakings and administrative efficiency. Based on its findings, the committee makes recommendations to the government aimed at strengthening financial accountability and promoting good governance. In this way, the PAC serves as a key pillar of Parliament’s financial oversight mechanism.
Meanwhile, another meeting of the Parliamentary Standing Committee on Commerce, chaired by Trinamool Congress MP Dola Sen, was also held in Parliament House. Representatives from FICCI, CII and FIEO, along with officials related to skill development, were invited to discuss issues such as the Indo-US trade deal and US tariffs.
According to the Dynamite News correspondent, no BJP MP asked any questions to the representatives as a mark of protest. The committee consists of 29 MPs from both the ruling side and the opposition, including the Chairperson.
After the meeting, Dola Sen said on India-US relations, “There are ample opportunities, but there are constraints as well. As Chairperson of the Parliamentary Standing Committee on Commerce, we are addressing both aspects. Our discussions and interactions with all stakeholders are still underway. Once the process is completed, we will prepare our report, place it in the public domain and table it in Parliament.”
