explain money bill ? how is it passed in parliament??

Explanation of Money Bill:

Under article 110(1) of the Constitution, a Bill is deemed to be a Money Bill if it contains only provisions dealing with all or any of the following matters, namely:

  • the imposition, abolition, remission, alteration or regulation of any tax;
  • 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;
  • the custody of the Consolidated Fund or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such fund;
  • the appropriation of moneys out of the Consolidated Fund of India;
  • 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;
  • 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.

 How is the money bill passed in the Parliment?

A Money Bill can be introduced only in the Lok Sabha and only on the recommendation of the President. After it is passed by the Lok Sabha and transmitted to Rajya Sabha, the latter may make its recommendations if any, within a period of 14 days and the Lok Sabha may accept or reject all or any of the recommendation.

The Bill is deemed to be passed by both the Houses with the amendments accepted by Lok Sabha. If no amendment recommended by Rajya Sabha is acceptable to Lok Sabha or if the Bill is not returned by the Rajya Sabha within 14 days, it is deemed to have been passed by both the Houses in the form in which it was passed by the Lok Sabha (Article 109).

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Lawmaking is the main function of the Parliament. It is true that law is made joint by the legislature and executive, but the role of legislature in lawmaking deserves s mention.

Lawmaking involves several steps. First, a bill is introduced in the Parliament. S the bill is passed by the Parliament. Third, the bill, after getting passed by the Parli is sent to the President for his assent. When the bill is adopted in the Parliament, it bee an Act. When an Act gets the assent of the Parliament, it becomes the law of the land.

A Bill is a technical name given to the draft of the proposal which is moved in Parliament. Non-Money Bills can be introduced either in the Lok Sabha or in the Sabha. But the Money Bills can be introduced only in the Lok Sabha. A Money Bill, before it is introduced in the Lower House, has to receive the approval of the President.

Preparing a bill is not an easy job. It requires some amount of expertise and tech knowledge. Apart from the knowledge of the concerned matter, legal background is required for preparing a bill. It is difficult for an ordinary member of Parliament to mobilize required resources.

This explains why most of the bills are moved by the government. However, sometimes some MPs also take the trouble of preparing bills and introduced them in the Parliament.

When a ministry or department decides to move a bill in the Parliament, it depends mostly upon its own resources for this purpose. However, it consults the Law Mini before the bill is given the final shape. If a private Member of Parliament wants to introduce a bill, he takes the help of the Secretariat of the Parliament. He also consults the Ministry in this regard.

When a bill is introduced by any ministry or government department, it is known the Government Bill. On the contrary, a bill introduced by a private Member of Parliament is called a Private Member's Bill.Because of party discipline a Government Bill is v likely to be passed by the Lok Sabha, because the ruling party enjoys majority support1the Lok Sabha.

The fate of a Private Member's Bill is uncertain, as the attitude of government towards such a bill is quite uncertain. Even if a Private Member's Bill introduced by an MP belonging to the ruling party, it is not obligatory for the government to support it.

A bill has to pass through three stages. In each stage, there is a reading of the bill, is why these three stages are known as the first reading, the second reading and the third reading. The Committee stage and the Report stage form a part of the second reading.

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