What is a money bill??

A Money Bill is a specific type of bill in a legislative system that deals exclusively with national revenue or expenditure. In the context of India, a Money Bill is defined under Article 110 of the Indian Constitution and can only be introduced in the Lok Sabha, not the Rajya Sabha.

Features of a Money Bill

1. Purpose: It exclusively concerns financial matters such as taxation, borrowing of money by the government, or the expenditure from the Consolidated Fund of India.
2. Initiation: It can only be introduced on the recommendation of the President and only in the Lok Sabha.
3. Role of Rajya Sabha: The Rajya Sabha cannot amend a Money Bill but can recommend changes, which the Lok Sabha may accept or reject.
4. Approval: Once passed by the Lok Sabha, the bill is sent to the Rajya Sabha, which must return it within 14 days with or without recommendations.
5. Certification: The Speaker of the Lok Sabha certifies whether a bill is a Money Bill.

Examples of Money Bill contents

• Imposition, abolition, remission, alteration, or regulation of any tax.
• The borrowing of money or the giving of any guarantee by the Government of India.
• The custody of the Consolidated Fund of India or the Contingency Fund of India.

Understanding these features helps differentiate a Money Bill from other types of bills in the legislative process.