|Author: Siddhi Satpathy 19 Mar 2016 Member Level: Bronze Points : 3 (Rs 3) Voting Score: 0|
a money bill or supply bill is a bill that solely concerns taxation or government spending (also known as appropriation of money), as opposed to changes in public law. It varies from a normal bill in the legislative procedures. Let me explain it in simple way.
1.A money bill can be introduced only in the Lok Sabha, but an ordinary bill can be introduced in the either of the two houses.
2.The Rajya Sabha can just make recommendations in the case of a money bill, but if there is dispute, it is followed by a joint session.
3. President needs to give an assent for a money bill, but he/she can send an ordinary bill back to the parliament for reconsideration.
4. A money bill requires prior consent of the President before being introduced, but an ordinary bill doesn't.
I hope that was helpful!
|Author: Padma 31 Mar 2016 Member Level: Silver Points : 4 (Rs 4) Voting Score: 0|
A money bill or supply bill is a bill that solely concerns taxation or government spending (also known as appropriation of money), as opposed to changes in public law.
-A Money Bill can be introduced in Lok Sabha only. If any question arises whether a Bill is a Money Bill or not, the decision of Speaker thereon is final.
-Money bills passed by the Lok Sabha are sent to the Rajya Sabha the upper house of parliament.
-When a Money Bill is returned to the Lok Sabha with the recommended amendments of the Rajya Sabha it is open to Lok Sabha to accept or reject any or all of the recommendations.
-Finance bill is supposed to be enacted within 75 days(including the Parliament voting and the President assenting).
-A money bill can only be introduced in parliament with prior permission by the President of India.
-Money bill cannot be returned by the President to the parliament for its reconsideration, as it is presented in the Lok Sabha with his permission.
Example of a money bill is Finance Bill which is introduced with Budget in India.