Скачать или смотреть What are money and financial Bills? Learn in Depth

The Constitution defines certain categories of bills that deal with financial matters as money Bills and financial Bills. Article 110(1)(a) to (f) defines a money Bill as a bill that contains ‘only’ provisions dealing with one or more of six specific matters. They relate to taxation; borrowing by government; custody of consolidated fund or contingency fund and payment/withdrawal of money from such fund; appropriation out of consolidated fund; expenditure charged on consolidated fund; receipt on account of consolidated fund or public account or the audit of accounts of Union or States.

Clause (g) of Article 110 (1) provides that any matter incidental to these six matters can also be classified as a money Bill. Examples of money Bills include the Finance Act and the Appropriation Act that deal primarily ‘only’ with taxation and spending out of the consolidated fund respectively.

Article 117 provides for two different categories of financial Bills. Category I contains any of the six matters mentioned in Article 110(1)(a) to (f) along with any other matter. Category II Bills do not contain any of those six matters but would involve expenditures from the consolidated fund.

What is the procedure for a money Bill?
As per Article 109, a money Bill shall be introduced only in the Lok Sabha. After it is passed in the Lok Sabha, the Rajya Sabha has only 14 days to provide its recommendations on such a Bill which may or may not be accepted by the Lok Sabha. Money Bills deal ‘only’ with financial matters that are crucial for the administration of the country.
Hence, the Constitution provides for this special procedure that effectively requires only the approval of Lok Sabha where the ruling government enjoys a majority.

This brings us to the end of our video. We hope that you found it informative for your exam preparations. please click on the LIKE button, SHARE our videos with your friends and subscribe to our channel on YouTube and follow us on Instagram. Thank you for watching this I will see you in our next .