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Friday, November 11, 2011

Q. What is a Money Bill?

Ans. The Money Bill has been defined in Article 110 of the Constitution. Accordingly, a Bill shall be termed as a Money Bill only if it contains the following matters or any one of the following matters exclusively—
(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;
(c) the custody of the Consolidated Fund of India or the Contingency Fund of India. the payment of moneys into or the withdrawal of moneys from any such fund; (d) the appropriation of moneys 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 Stale; or
(g) any matter incidental to any of the matters specified in the Sub- clauses (a) of (f).
A Money Bill can be introduced only in the House of the People (Lok Sabha). The Speaker of the Lok Sabha certifies that a particular Bill is a Money Bill. The Council of States does not have much power with respect to the Money l3ills. It can only delay the Bill for fourteen days. Ultimately a Money Bill is passed ii the form desired by the Lok Sabha.

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