Money Bill of Article 110 Constitution of India
Q1. What is the Money Bill of India?
According to Article 110 of the constitution of India, a “Money Bill” is a bill comprising laws governing taxes, the government’s borrowing policies, and the use of funds from the Consolidated Fund of India.
Q2. Who introduces Money Bill in India?
Only a minister is authorized to introduce a Money Bill in the Lok Sabha. The budget is included in this. The Prime Minister is first shown this budget before it is presented to the Parliament.
Q3. Who passes Money Bill?
The Lok Sabha passes the Money Bill with a simple majority of all members who are present and voting. The Rajya Sabha may then send it for recommendations, which the Lok Sabha may accept or reject as it sees fit.
Q4. Can Rajya Sabha reject a Money Bill?
A money bill cannot be changed or rejected by Rajya Sabha. Within 14 days, it must send the bill back to the Lok Sabha, either with or without recommendations.
Q5. Difference Between Money Bill & Financial Bill in India for UPSC.
Money Bill:
– Article: Article 110
– Meaning: Exclusively deals with financial matters as defined in Article 110.
– Form: Government Bill
– Introduced In: Lok Sabha only
– President’s Prior Approval: Required
– Speaker’s Certification: Yes
– Rajya Sabha’s Role: No Role
– Joint Sitting: No Provision
– After President’s Assent: Becomes an act, published in the Indian Statute Book.
Financial Bill:
– Article: Article 117 (I) and Article 117 (II)
– Meaning: Deals with revenue and expenditure.
– Form: Ordinary Bill
– Introduced In: Bills under Article 117 (1) in Lok Sabha only; Bills under Article 117 (3) in both houses.
– President’s Prior Approval: Required
– Speaker’s Certification: No
– Rajya Sabha’s Role: Same role as Lok Sabha
– Joint Sitting: Yes, in case of deadlock
– After President’s Assent: Becomes an act, published in the Indian Statute Book.
Q6. Which article talks about state Money Bill?
A Money Bill, as defined in Article 110 of the Indian Constitution, pertains to financial matters such as taxation and public expenditure.
References:
Article 110 in Constitution of India [indiankanoon.org/]
Money Bills [constitutionofindia.etal.in/]
Description Of The Budget Documents [dea.gov.in/]
Money Bill – Article 110 Constitution of India
Money Bill, Meaning, Types, Notes: The Money Bill is defined in Article 110 of the Constitution of India. Money bills, as the name indicates, cover financial matters including taxation, government spending, etc. The bill is essential for Indian politics and governance because it focuses on various necessary subjects, including the Aadhar Bill and the Insolvency and Bankruptcy Bill. Money Bill is introduced in the Lok Sabha. In the Lok Sabha, it must be passed by a simple majority of all members who are present and voting. In this article, we will look into the meaning, types, characteristics, articles, and constitutional provisions of the Money Bill.
Table of Content
- What is Money Bill?
- Provisions of Money Bill
- Characteristics of Money Bill
- Types of Money Bill
- How does a Money Bill become an Act?
- Role of Lok Sabha in Money Bill
- Role of Speaker in Money Bill
- Restricted Powers of Rajya Sabha in Money Bill
- Money Bill and Veto Power
- The Aadhar Act, 2016 and Money Bill
- Article 117 of Indian Constitution – Financial Bill
- FAQs on Money Bill of Article 110 Constitution of India