The Committee on Public Undertakings (COPU) is a parliamentary committee that carries out the vital task of examining and reporting on the performance and functioning of public sector undertakings (PSUs) in India.
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COPU serves several functions, including:
- Performance Evaluation: COPU evaluates the efficiency, financial viability, compliance with government policies, resource utilization, and achievement of objectives by PSUs. This evaluation involves a thorough examination of audited accounts, reports, and other relevant documents to assess the overall functioning of PSUs.
- Scrutiny of Projects: COPU scrutinizes investment decisions, capital expenditures, and the implementation of major projects undertaken by PSUs. It ensures that projects are planned, executed, and monitored effectively, minimizing cost and time overruns.
- Oversight and Accountability: The committee holds PSUs accountable for their actions and ensures their alignment with government policies and guidelines. It examines governance, transparency, and compliance issues, identifying areas for improvement.
- Recommendations: COPU provides recommendations to address shortcomings, inefficiencies, and challenges faced by PSUs. These recommendations may include changes in policies, procedures, or management practices to enhance the performance and efficiency of PSUs.
Overall, COPU plays a pivotal role in ensuring accountability, transparency, and effective governance of public sector undertakings, thereby contributing to the efficient functioning of the public sector in India.