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Correct Option is 1,2,3,4 and 5

Estimates Committee Its origin can be traced to the standing finance committee set up in 1921. The first Estimates Committee in the postindependence era was constituted in 1950 on the recommendation of John Mathai, the then finance minister. Originally, it had 25 members but in 1956 its membership was raised to 30. All the thirty members are from Lok Sabha elected only according to the principles of proportional representation by means of a single transferable vote. The Rajya Sabha has no representation in this committee. The term of office is one year. A minister cannot be elected as a member of the committee. The chairman of the committee is appointed by the Speaker from amongst its members and he is invariably from the ruling party. The function of the committee is to examine the estimates included in the budget and suggest ‘economies’ in public expenditure. Hence, it has been described as a ‘continuous economy committee’. Some limitations 1. It examines the budget estimates only alter they have been voted by the Parliament, and not before that 2. It cannot question the policy laid down by the Parliament 3. Its recommendations are advisory and not binding on the ministries 4. Its work is in the nature of a post-mortem. Hence all statements are correct.

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