Committee Constituted to Look into Black Money and Performance of PSBs

To study the recovery of black money and performance of public sector banks, a Parliamentary panel was constituted by the speaker of the Parliament.

• It will be a 30-member Estimates Committee which would study a host of subjects related to various ministries in the year 2018-19.
• It is also known as the Continuous Economy committee.
• The panel will be headed by veteran BJP leader Murali Manohar Joshi.
• As per the memorandum of the committee, the panel will look into the import of uranium for nuclear plants, mining activities and environment, upgrading of Indian Post offices etc.
• It will focus on the black money and the unaccounted money that was legitimised during the demonetization period as per RBI’s report.
• It would suggest changes in policy or administrative framework to bring efficiency in expenditure.
• The panel has also short listed preparedness of the armed forces, defence production and procurement as subjects to review and give suggestions to the government.
• After the implementation of demonetisation, the issue of black money was looked into by the Public Accounts Committee.

Expected Questions

Question 1. Which committee has been constituted to look into the performance of PSBs?
Continuous Economy committee

Question 2.Who is the head of that committee?
Murali Manohar Joshi

Question 3. Who is the speaker of the Lok Sabha?
Sumitra Mahajan

Question 4.Who is the Chairperson of the PAC (Public Accounts Committee)?
Mallikarjun Kharge