(a) Money bills are those bills which deal with taxes, borrowings, income, expenditure and grants. (b) A money bill can only be introduced in the Lok Sabha. The President has to give permission to enable a money bill to be introduced in Parliament. The Speaker testifies whether a bill is a money bill or not. (c) The bill goes through three readings in each house. The introductory stage is known as the first reading. At the second reading, a detailed discussion takes place and certain changes may be incorporated. At the third stage the whole bill is put to vote. (d) After it is passed in the Lok Sabha, the bill is sent to the Rajya Sabha. The Rajya Sabha has to pass the bill within 14 days, it cannot reject the bill and can make certain recommendations but it is up to the Lok Sabha whether it accepts the recommendations or not. (e) The bill is then sent to the President for his signature. The President has to sign the money bill. cannot send it back for reconsideration.
You need to login to perform this action.
You will be redirected in 3 sec