New Delhi: Key parliamentary panels, including the Public Accounts Committee (PAC) that will be headed by Congress' K C Venugopal, have been constituted.

BJP's Sanjay Jaiswal will head the Committee on Estimates while his party colleague Baijayant Panda will chair the Committee on Public Undertakings.

The Public Accounts Committee, Committee on Public Undertakings (CoPU) and Committee on Estimates are the key financial committees of Parliament tasked with keeping a watch on the government's accounts and the functioning of public undertakings.

The Lok Sabha Secretariat issued a bulletin on Friday announcing the constitution of parliamentary committees.

The three committees have a tenure of one year and have members from both Lok Sabha and Rajya Sabha.

They are elected by the two Houses.

Besides, there are other department-related standing committees which keep an eye on various Union ministries and departments.

The Committees on the welfare of Other Backward Classes as also for the welfare of SCs and STs have also been constituted, the bulletin said.

While the Committee on Welfare of OBCs is headed by Ganesh Singh of the BJP, his party colleague Faggan Singh Kulaste heads the Committee on Welfare of SCs and STs.