- Classification: A Money Bill is classified as one of the types of bills (alongside Ordinary Bills and Constitution Amendment Bills) within the legislative category of bills.
- Constitutional Provision (Article 109): Under Article 109 (Special procedure in respect of Money Bills), a Money Bill shall not be introduced in the Council of States (Rajya Sabha).
- Introduction:
- A Money Bill can be introduced only in the Lok Sabha.
- Non-money bills may be introduced in either House, but this does not apply to Money Bills.
- Powers of the Lok Sabha:
- The Lok Sabha can introduce and enact Money Bills.
- The powers to control finances are exercised by the directly elected representatives in the Lok Sabha.
- Role and Limitations of the Rajya Sabha:
- The Rajya Sabha cannot initiate, reject, or amend Money Bills.
- Once passed by the Lok Sabha, the Money Bill is sent to the Rajya Sabha.
- The Rajya Sabha can only either approve the bill or suggest changes/amendments to it.
- Time Limit and Deemed Passage: If the Rajya Sabha takes no action within 14 days, the Money Bill is deemed to have been passed.
- Discretion on Amendments: Any amendments or changes suggested by the Rajya Sabha may or may not be accepted by the Lok Sabha.
Reference Ncert Documents
https://ncert.nic.in/textbook/pdf/keps205.pdf
