The correct option is 1 and 2 only.
Explanation
Joint Parliamentary Committees (JPCs) are ad-hoc bodies constituted by the Parliament for a specific duration and purpose. They are formed through a motion adopted by one House and concurred by the other, or by communication between the presiding officers of both Houses.
- Statement 1 is Correct: A JPC can be set up to examine and discuss a specific bill. When a bill is significant or controversial, it may be referred to a Joint Committee comprising members from both the Lok Sabha and the Rajya Sabha for detailed scrutiny before it is passed. For instance, the Personal Data Protection Bill, 2019 was referred to a JPC.
- Statement 2 is Correct: JPCs are often constituted to investigate specific issues of public importance, particularly financial irregularities or corruption scandals. Their mandate is to examine the evidence, interview witnesses, and submit a report to the Parliament. Notable examples include JPCs on the Bofors contract, the Stock Market Scam (1992), and the 2G Spectrum allocation.
- Statement 3 is Incorrect: The selection of the Prime Minister is a constitutional process involving the President of India. In the event of a hung parliament, the President invites the leader of the single largest party or pre-poll alliance to form the government. Parliamentary committees have no role in the appointment of the Executive.
Key Takeaway: Joint Parliamentary Committees are temporary bodies created for two primary purposes: detailed legislative scrutiny of specific bills and investigation of significant financial or administrative irregularities.