what is Parliamentary Control in economics

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Parliamentary controls include "affirmative resolution procedures" where the legislation requires both the parliamentary house to give their approval and "negative resolution procedures" where the legislation may be vetoed by either house.

The dissertation analyses the idea that parliament controls public money in parliamentary constitutional systems of government. The analysis proceeds contemporary examination of the way legal practices distribute authority over public money between different institutions of government.

The Parliament can exercise effective control over public finance through an independent audit of the accounts kept by the Executive with individual Accounting Officer who works under a minister and is charged with the function of making payments, scrutiny of claims and keeping of accounts.

Taxation and related policies of economic need to be approved by the Parliament before coming into force.

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As the State enterprises are set up mainly to render service to society and safeguard its interest, it is necessary that parliament should exercise some control on their working. The parliament has to see that – (a) the consumers are provided with quality goods and service at reasonable prices and (b) interest of labor is protected.

Parliamentary control over the State undertakings is exercised by the methods such as – (a) questions in parliament, (b) debates on the annual grants of the various ministers, (c) Annual reports on the government companies, and (d) Public Accounts Committee and the Estimates Committee reports.

There can be no objection to parliament’s control of State enterprises in which huge public funds are involved. However, it is necessary for parliament to allow a certain amount of flexibility in regard to control to be exercised from time to time.