The most important function of the Parliament is the making of the laws. There are two kinds of Bills Money Bills and Ordinary Bills. A Money Bill can be introduced the only in the Lok Sabha on the other hand Ordinary bill can be introduced in either Lok Sabha or Rajya Sabha. See... Difference Between Money Bill and Ordinary Bill
Money bills are what kind of financial bills. financial bills are dealt with under article 117, money bills under article 110 respectively
1) Money Bills (Article 110 of the Indian Constitution)
2) Other Financial Bills [Article 117(1)of the Indian Constitution]
3) Bills Involving Expenditure [Article 117(3)]
Money Bills (Article 110 ) -
Article 110 of the Indian Constitution defines “Money Bills” It says that 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-clauses (a) to (f).
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.
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. 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. All money bills are financial bills but all financial bills are not money bills
Other Financial Bills
According to article 117, first kind of financial bills refer to those bills which are related to matters in Article 110 or related matters. Also, second kinds of financial bills are those which are not related to article 110 but expenditure related to the consolidated fund of India. The first kind of financial bills can be introduced only on the Recommendation of the President. However, the second kind of financial bills can be introduced in either House of Parliament, without any requirement of Presidential recommendation.
Bills Involving Expenditure -
Financial bill and other bills involving expenditure differ from a money bill in so far as the former can be amended or rejected by the Rajya Sabha like an ordinary bill. The Rajya Sabha cannot amend or reject a Money bill. And if there is a deadlock between the houses it can be resolved by the joint session of the Houses. Thus the Rajya Sabha has some control over financial and other bills involving expenditure.
See also
42nd Amendment and The Preamble
Can Preamble be amended under Article 368 ??
Financial bills
Money bills are what kind of financial bills. financial bills are dealt with under article 117, money bills under article 110 respectively
Financial bills are of three kinds which are as follows -
1) Money Bills (Article 110 of the Indian Constitution)
2) Other Financial Bills [Article 117(1)of the Indian Constitution]
3) Bills Involving Expenditure [Article 117(3)]
Money Bills (Article 110 ) -
Article 110 of the Indian Constitution defines “Money Bills” It says that 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-clauses (a) to (f).
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.
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. 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. All money bills are financial bills but all financial bills are not money bills
Other Financial Bills
According to article 117, first kind of financial bills refer to those bills which are related to matters in Article 110 or related matters. Also, second kinds of financial bills are those which are not related to article 110 but expenditure related to the consolidated fund of India. The first kind of financial bills can be introduced only on the Recommendation of the President. However, the second kind of financial bills can be introduced in either House of Parliament, without any requirement of Presidential recommendation.
Bills Involving Expenditure -
Financial bill and other bills involving expenditure differ from a money bill in so far as the former can be amended or rejected by the Rajya Sabha like an ordinary bill. The Rajya Sabha cannot amend or reject a Money bill. And if there is a deadlock between the houses it can be resolved by the joint session of the Houses. Thus the Rajya Sabha has some control over financial and other bills involving expenditure.
See also
42nd Amendment and The Preamble
Can Preamble be amended under Article 368 ??
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