Parliament Reconstitutes Key Financial and Standing Committees Till 2027

New Delhi, May 2: Lok Sabha Speaker Om Birla has officially reconstituted four crucial Parliamentary Committees for the financial year 2026-27, reaffirming Parliament’s oversight mechanism on governance, expenditure and welfare programmes.
The reconstituted panels include three major financial committees and one Department-related Standing Parliamentary Committee. As per parliamentary procedure, these committees are renewed annually after the expiry of their tenure on April 30. The fresh term for the newly formed committees began on May 1, 2026, and will continue till April 30, 2027.
Among the appointments, Bharatiya Janata Party leader Faggan Singh Kulaste has once again been named Chairperson of the Committee on the Welfare of Scheduled Castes and Scheduled Tribes. Senior BJP MPs Baijayant Jay Panda and Sanjay Jaiswal also retained leadership positions in two important financial panels.
Meanwhile, Congress leader K. C. Venugopal has been reappointed Chairperson of the influential Public Accounts Committee (PAC), one of Parliament’s most significant watchdog bodies monitoring government expenditure.
Parliamentary Oversight Mechanism Strengthened
The committees play a central role in ensuring accountability and transparency within government functioning. They scrutinise departmental reports, assess implementation of schemes, review public expenditure and recommend corrective policy measures on issues of national importance.
The chairpersons are elected from among committee members under the proportional representation system using the single transferable vote method, ensuring representation across political parties.
Composition of Key Panels
The Committee on the Welfare of Scheduled Castes and Scheduled Tribes comprises 30 members, including 20 elected by the Lok Sabha and 10 by the Rajya Sabha. The panel examines safeguards and welfare measures meant for Scheduled Castes and Scheduled Tribes across the country.
The Committee on Public Undertakings consists of 22 members, with 15 elected from the Lok Sabha and seven nominated from the Rajya Sabha. The committee evaluates the functioning and financial performance of public sector enterprises.
The Estimates Committee, another major financial panel, includes 30 members elected annually by the Lok Sabha. It studies budget estimates and suggests ways to improve administrative efficiency and reduce unnecessary expenditure.
Public Accounts Committee and Financial Scrutiny
The Public Accounts Committee remains one of the most powerful parliamentary bodies responsible for examining government accounts and audit reports submitted by the Comptroller and Auditor General (CAG).
The PAC includes not more than 22 members — 15 from the Lok Sabha and up to seven from the Rajya Sabha. Its powers and responsibilities are defined under Rule 308(1) of the Rules of Procedure and Conduct of Business in Lok Sabha.
The committee verifies whether public funds have been utilised legally and for the intended purposes approved by Parliament. It also investigates cases where government departments exceed sanctioned expenditure limits during a financial year.
If excess spending is detected, the PAC examines the circumstances behind such expenditure and submits recommendations aimed at improving financial discipline and accountability within government departments.
The reconstitution of these committees is expected to strengthen parliamentary supervision over governance, public finance and welfare administration during the 2026-27 fiscal period.