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With reference to the Standing Committee on Finance, consider the following statements:
1. It examines the financial matters concerned with all the ministries and departments of the Government of India.
2. The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha.
Which of the statements given above is/are correct?
1. It examines the financial matters concerned with all the ministries and departments of the Government of India.
2. The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha.
Which of the statements given above is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
With reference to the Standing Committee on Finance, consider the foll...
• Standing Committee on Finance
1. The Committee is constituted under Rule 331C of the Rules of Procedure and Conduct of Business in Lok Sabha.
2. It consists of 31 members; 21 members from Lok Sabha, nominated by the Speaker, Lok Sabha and 10 from Rajya Sabha nominated by the Chairman, Rajya Sabha.
3. Statement 2 is correct: The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha. The term of office of the members of the Committee does not exceed one year
• Statement 1 is not correct: It examines matters concerned with the following Ministries/ Departments:
1. Ministry of Finance:
✓ Department of Economic Affairs,
✓ Department of Financial Services
✓ Department of Expenditure,
✓ Department of Revenue, and
✓ Department of Investment & Public Asset Management
1. Ministry of Corporate Affairs,
2. Ministry of Planning (NITI Aayog), and
3. Ministry of Statistics and Programme Implementation
• Functions of the Committee
1. The Committee has been entrusted with the following functions:
✓ to consider the Demands for Grants of the concerned Ministries/Departments and make Reports on the same to the Houses
✓ to examine such Bills pertaining to the concerned Ministries/Departments as are referred to the Committee by the Speaker, Lok Sabha or the Chairman, Rajya Sabha as the case may be, and make Reports thereon;
✓ to consider Annual Reports of the concerned Ministries/Departments and make Reports thereon; and
✓ to consider national basic long term policy documents presented to the houses, if referred to the Committee by the Speaker, Lok Sabha or the Chairman, Rajya Sabha as the case may be, and make Reports thereon.
1. The Committee is constituted under Rule 331C of the Rules of Procedure and Conduct of Business in Lok Sabha.
2. It consists of 31 members; 21 members from Lok Sabha, nominated by the Speaker, Lok Sabha and 10 from Rajya Sabha nominated by the Chairman, Rajya Sabha.
3. Statement 2 is correct: The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha. The term of office of the members of the Committee does not exceed one year
• Statement 1 is not correct: It examines matters concerned with the following Ministries/ Departments:
1. Ministry of Finance:
✓ Department of Economic Affairs,
✓ Department of Financial Services
✓ Department of Expenditure,
✓ Department of Revenue, and
✓ Department of Investment & Public Asset Management
1. Ministry of Corporate Affairs,
2. Ministry of Planning (NITI Aayog), and
3. Ministry of Statistics and Programme Implementation
• Functions of the Committee
1. The Committee has been entrusted with the following functions:
✓ to consider the Demands for Grants of the concerned Ministries/Departments and make Reports on the same to the Houses
✓ to examine such Bills pertaining to the concerned Ministries/Departments as are referred to the Committee by the Speaker, Lok Sabha or the Chairman, Rajya Sabha as the case may be, and make Reports thereon;
✓ to consider Annual Reports of the concerned Ministries/Departments and make Reports thereon; and
✓ to consider national basic long term policy documents presented to the houses, if referred to the Committee by the Speaker, Lok Sabha or the Chairman, Rajya Sabha as the case may be, and make Reports thereon.
Most Upvoted Answer
With reference to the Standing Committee on Finance, consider the foll...
Answer:
The correct answer is option 'B' - 2 only. Let's discuss each statement in detail:
Statement 1: The Standing Committee on Finance examines the financial matters concerned with all the ministries and departments of the Government of India.
This statement is incorrect. The Standing Committee on Finance does not examine the financial matters concerned with all the ministries and departments of the Government of India. It specifically examines the financial matters related to the Ministry of Finance and its departments, such as the Department of Economic Affairs, Department of Expenditure, Department of Revenue, and the Department of Disinvestment. The committee's main focus is on the financial policies and economic affairs of the country, including the budgetary process, taxation policies, and the functioning of various financial institutions.
Statement 2: The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha.
This statement is correct. The Chairman of the Standing Committee on Finance is indeed appointed by the Speaker of Lok Sabha from amongst the members of the committee from Lok Sabha. The committee consists of 31 members, out of which 21 are from Lok Sabha and 10 are from Rajya Sabha. The Chairman of the committee is usually a member of the ruling party or coalition in the Lok Sabha.
Conclusion: Only statement 2 is correct. The Standing Committee on Finance does not examine the financial matters concerned with all the ministries and departments of the Government of India. Its scope is limited to the Ministry of Finance and its departments. The Chairman of the committee is appointed by the Speaker of Lok Sabha from amongst the members of the committee from Lok Sabha.
The correct answer is option 'B' - 2 only. Let's discuss each statement in detail:
Statement 1: The Standing Committee on Finance examines the financial matters concerned with all the ministries and departments of the Government of India.
This statement is incorrect. The Standing Committee on Finance does not examine the financial matters concerned with all the ministries and departments of the Government of India. It specifically examines the financial matters related to the Ministry of Finance and its departments, such as the Department of Economic Affairs, Department of Expenditure, Department of Revenue, and the Department of Disinvestment. The committee's main focus is on the financial policies and economic affairs of the country, including the budgetary process, taxation policies, and the functioning of various financial institutions.
Statement 2: The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from Lok Sabha.
This statement is correct. The Chairman of the Standing Committee on Finance is indeed appointed by the Speaker of Lok Sabha from amongst the members of the committee from Lok Sabha. The committee consists of 31 members, out of which 21 are from Lok Sabha and 10 are from Rajya Sabha. The Chairman of the committee is usually a member of the ruling party or coalition in the Lok Sabha.
Conclusion: Only statement 2 is correct. The Standing Committee on Finance does not examine the financial matters concerned with all the ministries and departments of the Government of India. Its scope is limited to the Ministry of Finance and its departments. The Chairman of the committee is appointed by the Speaker of Lok Sabha from amongst the members of the committee from Lok Sabha.
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With reference to the Standing Committee on Finance, consider the following statements:1. It examines the financial matters concerned with all the ministries and departments of the Government of India.2. The Chairman of the Committee is appointed by the Speaker from amongst the members of the Committee from LokSabha.Which of the statements given above is/arecorrect?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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