UPSC KPSC IAS KAS EXAMS
What
is it all about … When ?? who? where? how? What is the result and impacts of
the bill
What do you understand by money bill and how is it
different from the financial bill? examine the criteria & bill needs to fulfill
to be termed as a Money bill 250 Words
WHAT
IS BILL
A public bill is a proposed law that would apply to everyone within its
jurisdiction. ... A private bill is not to be confused with a private member's
bill, which is a bill introduced by a "private member" of the
legislature rather than by the ministry.
MONEY BILLS
Money bills are those bills that are concerned with
financial matters like taxation, public expenditure, etc. These are those bills
that contain provisions that deal with all or any of the matters specified in
Article 110 of the Indian Constitution. This bill is presented only in Lok Sabha. It is
introduced only by the Minister. The money bill is introduced only after President’s recommendation.
This bill cannot be amended or rejected by Rajya Sabha. It can be detained by Rajya Sabha for
a maximum period of 14
days. The money bill is then sent to the President for his approval only after being passed by Lok
Sabha. There is no provision of joint sitting in case of money bills.
Article
110
Money Bill is defined in Article 110 of the Indian
Constitution. Money bills are concerned with financial matters like taxation,
public expenditure, etc. The bill is significant for Indian Polity and
governance as many important issues like Aadhar Bill, Insolvency, and Bankruptcy
Bill are also related to it.
The house meets in the Lok Sabha Chambers of the Sansad Bhavan, New
Delhi. The maximum membership of the House allotted by the Constitution of
India is 550 (Initially, in 1950, it was 500). Currently, the house has 543 seats which are made
up by the election of up to 543 elected members and at a maximum.
Article 110
WHO
CAN PROPOSE THIS BILL ONLY LOKASABHA
Money Bill is defined in ARTICLE 110 OF THE INDIAN CONSTITUTION. Money
bills are concerned with financial matters like taxation, public expenditure,
etc. The bill is significant for Indian Polity and governance as many important
issues like Aadhar Bill, Insolvency and Bankruptcy Bill are also related to it.
Which
article speaks about money Article 110 in The Constitution Of India 1949
(when)
110. Definition of Money Bill
(1) For the purposes of this Chapter, a Bill shall be deemed
to be a Money Bill if it contains only provisions dealing with all or any of
the following matters, namely
(a) the imposition, abolition, remission, alteration or
regulation of any tax;
(b) the regulation of the borrowing of money or the giving
of any guarantee by the Government of India, or the amendment of the law with
respect to any financial obligations undertaken or to be undertaken by the
Government of India;
(c) the custody of the Consolidated Fund or the Contingency
Fund of India, the payment of money into or the withdrawal of money from any
such Fund;
(d) the appropriation of money out of the consolidated Fund
of India;
(e) the declaring of any expenditure to be expenditure
charged on the Consolidated Fund of India or the increasing of the amount of
any such expenditure;
(f) the receipt of money on account of the Consolidated Fund
of India or the public account of India or the custody or issue of such money
or the audit of the accounts of the Union or of a State; or
(g) any matter incidental to any of the matters specified in
sub-clause (a) to (f)
(2) A Bill shall not be deemed to be a Money Bill by reason only that it
provides for the imposition of fines or other pecuniary penalties, or for the demand or payment of fees for licences or
fees for services rendered, or by reason that it provides for the imposition, abolition,
remission, alteration or regulation of any tax by any local authority or body
for local purposes
(3) If
any question arises whether a Bill is a Money Bill or not, the DECISION OF
THE SPEAKER of the House of the People thereon shall be final
(4) There shall be endorsed on every Money Bill when it is
transmitted to the Council of States under Article 109, and when it is
presented to the President for assent under Article 111, the certificate of the
Speaker of the House of the People signed by him that it is a Money Bill
THANK
YOU
