Topics Covered: Indian Constitution- historical underpinnings, evolution, features, amendments, significant provisions and basic structure.
What are money Bills?
In a pre-emptive move, the Congress has written to Lok Sabha Speaker Om Birla, urging him not to bypass the Rajya Sabha by declaring seven key Bills, including one on the privatisation of two public sector banks, as money Bills.
- The Rajya Sabha has limited powers to legislate on a money Bill.
- The Lok Sabha is free to accept or reject amendments made by the Rajya Sabha on a money Bill.
What is a Money bill?
A money bill is defined by Article 110 of the Constitution, as a draft law that contains only provisions that deal with all or any of the matters listed therein.
- These comprise a set of seven features, broadly including items such as the imposition or regulation of a tax; the regulation of the borrowing of money by the Government of India; the withdrawal of money from the Consolidated Fund of India; and so forth.
In the event a proposed legislation contains other features, ones that are not merely incidental to the items specifically outlined, such a draft law cannot be classified as a money bill.
Article 110 further clarifies that in cases where a dispute arises over whether a bill is a money bill or not, the Lok Sabha Speaker’s decision on the issue shall be considered final.
- What changes can be made via Finance Bill?
- How can changes related to income tax be made?
- Money Bill vs Finance bill.
- Who decides on matters related to Money and Finance Bills.
How does a money bill differ from a financial Bill? Analyze whether the process of classifying a bill as money bill needs change?
Sources: the Hindu.