Money bill question 2023 Prelims – The Core IAS

Money bill question 2023 Prelims

With reference to Finance Bill and Money Bill in the Indian Parliament, consider the following statements:

  1. When the Lok Sabha transmits Finance Bill to the Rajya Sabha, it can amend or reject the Bill.
  2. When the Lok Sabha transmits Money Bill to the Rajya Sabha, it cannot amend or reject the Bill, it can only make recommendations.
  3. In the case of disagreement between the Lok Sabha and the Rajya Sabha, there is no joint sitting for Money Bill, but a joint sitting becomes necessary for Finance Bill.

        How many of the above statements are correct?

        (a)   Only one

        (b)   Only two

        (c)   All three

        (d)   None

17.B

  • Statement I is wrong II is right: Once passed by Lok Sabha, it goes to Rajya Sabha along with Speaker’s certificate that it is a Money Bill for its recommendations. However, Rajya Sabha can neither reject nor amend such Bill but can only recommend changes in the Bill.
  • Statement III is right

Difference Between Financial Bill And Money Bill

  • Money bills have been covered under article 110 of the constitution whereas Finance bill is covered under article 117 (1) and (3) of the constitution of India.
  • The Rajya Sabha cannot amend or reject the money bill but it has the power to amend or reject the finance bill.
  • Whether a bill is money bill has to be decided by the speaker whereas no such prior approval is required to classify a finance bill.
  • Money bill and finance bill (1) can be introduced only in the Lok Sabha whereas a Finance Bill (2) can be introduced both in Rajya Sabha and the Lok Sabha.
  • To resolve a deadlock, the President can summon a joint sitting of Lok Sabha and the Rajya Sabha in case if it is finance bill, however no such provision is made in case of a money bill.