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What is the Difference between Finance bill and Money bill?

edited October 2015 in Political Science
Hi all, I have read many articles on internet to understand the difference between money bill and finance bill. But the more I read, the more confused I get. Theoretically bill pertaining to money matters under article 110(1) is a money bill and one dealing with money matters outside article 110(1) is a finance bill. So please elucidate with the help of an example the difference between money and finance bill.

Secondly please tell me who appoints speaker of lok sabha? Is it the protem speaker?

Comments

  • Money bill: only matters dealing with one or any of provisions with in Art.110
    Financial Bills: 2 types
    FB 1: defined by Art 117(1)
    deals with Any matter mentioned in Art 110 + any other matter of general legislation.
    It can only be introduced in Loksabha,only on recomm. of president
    Except for terms in above line, it is same as Ordinary bill.
    So,Joint session can be held + can be reffered to Joint committee
    FB 2: by Art 11(3)
    deals with provision which on enactment involve expenditure from Consolidated fund.
    does'nt deal with any matter in Art 110.
    Same as ordinary bill procedure
    Nothing endures ...except change
  • But one website says when govt has to impose a new tax, it will be a finance bill. But article 110(1) clause a talks about imposition of a tax will be considered as a money bill.

    And as per your explanation, finance bill of type 1 must have two subjects , one from article 110(1) and other outside article 110(1) ?

    And is it like that every money bill is a finance bill or vice versa?
  • edited August 2015
    Every money bill is financial bill but not viceversa.
    I think ur talking about finance bill which will be introduced at end of budget to envisage tax proposal ,then this finance bill will be considered as Money bill.
    & This Finance bill is way different from other bills which deal with Art 117(1) &(3),since it has to be passed with in 75 days(not sure) ,also it is considered as 'Secret bill'
    Nothing endures ...except change
  • So gst would be a finance bill along with a constitutional amendment bill?
  • for fb 2 prior recommendation of president is necessary or not
  • So gst would be a finance bill along with a constitutional amendment bill?
    Any bill(including money bill) is considered as Consti amend. bill if it amends consti & falls under Art 368.
    click here for more about Constitutional amedment bills <\a>
    Nothing endures ...except change
  • for fb 2 prior recommendation of president is necessary or not
    It is same as Ordinary bill,can be introduced in either house,prior recomm. of president is not necessary,can be referred to Joint comm.,Joint session can be held if possible
    Nothing endures ...except change
  • for fb 2 prior recommendation of president is necessary or not
    It is same as Ordinary bill,can be introduced in either house,prior recomm. of president is not necessary,can be referred to Joint comm.,Joint session can be held if possible
    quoting laxmikant about financial bill 2
    "THE ONLY SPECIAL FEATURE OF THIS BILL IS THAT IT CANNOT BE PASSED BY EITHER HOUSE OF PARLIAMENT UNLESS THE PRESIDENT HAS RECOMMENDED TO THAT HOUSE THE CONSIDERATION OF THE BILL"
    i am confused over this.
  • speaker of lok sabha is elected not apointed.
    pro tem speaker is appointed by president and he enables the lok sabha to elect the new speaker.
    घायल परिन्दा है तू..
    दिखला दे ज़िंदा है तू..
    बाकी है तुझमे...हौसला है..!!
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