New Delhi: In a significant development for parliamentary oversight of Indiaโs public sector enterprises, the 18th Committee on Public Undertakings (CoPU), chaired by Bharatiya Janata Party (BJP) National Vice President and Kendrapara MP Baijayant Jay Panda, tabled four crucial reports in Parliament today.
The presentation underscores the committeeโs ongoing commitment to ensuring transparency, accountability, and efficiency in the functioning of public sector undertakings (PSUs) under its purview.
The reports presented today include two Comprehensive Examination reports focusing on IFCI Limited (formerly Industrial Finance Corporation of India) and IREL (India) Limited (formerly Indian Rare Earths Limited), alongside two Audit reports addressing Design and Development (D&D) in Hindustan Aeronautics Limited (HAL) and the timely submission of Action Taken Notes (ATNs) on Comptroller and Auditor General (C&AG) Paras/Reports (Commercial) by various ministries and departments.
Reports Tabled: A Closer Look
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Comprehensive Examination Report on IFCI Limited
IFCI Limited, one of Indiaโs oldest financial institutions, has been under scrutiny for its operational and financial performance. Established in 1948 to catalyze industrial development, IFCI has faced challenges in recent years, including asset quality issues and declining profitability. The CoPU report is expected to delve into these concerns, offering recommendations to strengthen its role in supporting industrial growth. -
Comprehensive Examination Report on IREL (India) Limited
IREL (India) Limited, a PSU under the Department of Atomic Energy, is tasked with mining and processing rare earth minerals critical for advanced technologies and national security. The report likely assesses IRELโs operational efficiency, environmental compliance, and its contribution to Indiaโs self-reliance in rare earths amidst global supply chain challenges. Given the strategic importance of rare earth minerals, the findings could influence policy decisions aimed at bolstering Indiaโs position in this sector. -
Audit Report on Design and Development in Hindustan Aeronautics Limited (HAL)
Hindustan Aeronautics Limited, a flagship aerospace and defense PSU, plays a pivotal role in Indiaโs defense manufacturing. The audit report focuses on HALโs Design and Development activities, evaluating the progress of indigenous projects such as the Tejas Light Combat Aircraft and helicopter programs. With defense modernization a national priority, the report is anticipated to highlight areas for improvement in innovation, timelines, and cost management, drawing from C&AG observations. -
Audit Report on Timely Submission of Action Taken Notes (ATNs)
This report addresses a systemic issue: the delays by ministries and departments in submitting Action Taken Notes on C&AG audit paragraphs and reports related to commercial entities. The timely submission of ATNs is critical for ensuring accountability and implementing audit recommendations.
The CoPUโs findings are likely to call for stricter adherence to deadlines and enhanced coordination between PSUs and their parent ministries.
Leadership Under Baijayant Jay Panda
Since taking over as Chairperson of the 18th CoPU in August 2024, Baijayant Jay Panda has steered the committee toward unprecedented productivity. Under his leadership, the committee has submitted 12 reports and conducted 32 sittings, with no adjournments due to lack of quorumโa testament to its disciplined functioning. A standout achievement came on 18 December 2024, when the CoPU presented eight reports in a single day, setting a new benchmark for parliamentary efficiency.
Panda, a seasoned parliamentarian and BJP strategist, has emphasized rigorous oversight of PSUs to align their operations with national goals. His tenure as CoPU Chairperson builds on his prior roles, including his appointment as BJPโs election in-charge for Delhi and Uttar Pradesh, reflecting his growing stature within the party and Parliament.
Context and Significance
The CoPU, one of Parliamentโs three financial standing committees alongside the Public Accounts Committee (PAC) and the Estimates Committee, comprises 22 membersโ15 from the Lok Sabha and 7 from the Rajya Sabha. Tasked with examining PSU reports and accounts, it plays a vital role in ensuring fiscal prudence and operational excellence.
The tabling of these reports marks another milestone in the 18th CoPUโs tenure. As Parliament deliberates on these findings, the recommendations are expected to influence policy and operational frameworks across the scrutinized PSUs and beyond.
For Baijayant Jay Panda and the CoPU, todayโs achievement is a step forward in their mission to uphold transparency and efficiency in Indiaโs public sectorโa mission that continues to resonate in New Delhiโs corridors of power.
