Finance bill and money bill question asked in UPSC pre 2023

With reference to Finance Bill and Money Bill in the Indian Parliament consider the following statements:


1. When the Lok Sabha transmits Finance Bill  to the Rajya Sabha, it can amend or reject the Bill.


2. When the Lok Sabha transmits Money Bill to the Rajya Sabha, it cannot amend or reject

the Bill, it can only make recommendations.


3. In the case of disagreement between the Lok Sabha and the Rajya Sabha, there is no joint sitting for

Money Bill, but a joint sitting becomes necessary for Finance Bill.


How many of the above statements are correct?

(a) Only one

(b) Only two

(c) All three 

(d) None


Answer - A


Trick - Finance Bill = Money Bill 


Analysis 

Difficult,  Factual, Budget basics, parliament basics 


Finance bill and money bill question asked in UPSC pre 2023



Explanation 


What is finance Bill?


A Finance Bill is a type of Money Bill as defined in Article 110 (a) of the Constitution.


It deals with the proposals of the 

1. Government for levy of new taxes

2. Modification of the existing tax structure or continuance of the existing tax

structure beyond the period approved by Parliament are submitted to Parliament through this bill. 


It is introduced as a part of the Annual Financial Statement (i.e. Budget) under Article 112.


The Finance Bill can be introduced only in Lok Sabha. However, the Rajya Sabha can only recommend

amendments in the Bill, it can not amend or reject.


So, 1 false & 2 true


No joint sitting allowed. So, 3 is false.

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