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Which of the following statement regarding financial bills is NOT correctly matched? Money bills–Article 116 Financial bills (I)–Article 117 (1) Financial bills (II)–Article 117 (2)

Which of the following statement regarding financial bills is NOT correctly matched? Money bills–Article 116 Financial bills (I)–Article 117 (1) Financial bills (II)–Article 117 (2) Correct Answer 1 and 3

The correct answer is 1 and 3.

Financial Bills

  • Financial bills are those bills that deal with fiscal matters, that is, revenue or expenditure.
  • Bur, the Constitution uses the term ‘financial bill’ in a technical sense.
  • Financial bills are of 3 kinds:
    • Money bills–Article 110
    • Financial bills (I)–Article 117 (1)
    • Financial bills (II)–Article 117 (3)
  • This classification implies that money bills are simply a species of financial bills.
  • Therefore, all money bills are financial bills but all financial bills are not money bills.
  • Only those financial bills are money bills that contain exclusively those matters which are mentioned in Article 110 of the Constitution.
  • These bills are also certified by the Speaker of Lok Sabha as money bills.
  • The financial bills (I) and (II), on the other hand, have been dealt with in Article 117 of the Constitution.
    • Financial Bills (I) 
      • A financial bill (I) is a bill that contains not only any or all the matters mentioned in Article 110 but also other matters of general
        legislation.
      • For instance, a bill that contains a borrowing clause, but does not exclusively deal with borrowing. In two respects, a financial bill (I) is similar to a money bill–
        • ​Both of them can be introduced only in the Lok Sabha and not in the Rajya Sabha.
        • Both of them can be introduced only on the recommendation of the president.
    • Financial Bills (II)
      • It contains provisions involving expenditure from the Consolidated Fund of India but does not include any of the
        matters mentioned in Article 110.
      • This Bill is treated as an ordinary bill and in all respects, it is governed by the same legislative procedure which is applicable to an ordinary bill.
      • The special feature of this bill - it cannot be passed by either House of Parliament unless the President has recommended to that House the consideration of the bill.

Related Questions

Which of the following statement is true regarding bills of parliament? Bills introduced in the Parliament are of two kinds: public bills and private bills (also known as government bills and private members’ bills respectively). The bills introduced in the Parliament can also be classified into four categories: Formal bills, Currency bills, Financial bills and Constitution amendment bills Financial bills,  are  concerned with financial matters  like taxation ,public expenditure etc. Constitution amendment bills, which are concerned with the amendment of the provisions of the Constitution.
Which of the following category is NOT a right classification of the bills introduced in the Parliament? Ordinary bills, which are concerned with any matter other than financial subjects. Currency bills, which are concerned with the financial matters like taxation, public expenditure, etc. Financial bills, which are also concerned with financial matters ,also called as money bills. Constitution amendment bills, which are concerned with the amendment of the provisions of the Constitution.
Which one of the following four addresses is NOT EXACTLY same as the one given below? Mme Anna Kowalska Ul. Bosmanska 1 81­116 GDYNIA POLAND (i) Mme Anna Kowalska Ul. Bosmanska 1 81­116 GDYNLA POLAND (ii) Mme Anna Kowalska Ul. Bosmanska 1 81­116 GDYNIA POLAND (iii) Mme Anna Kowalska Ul. Bosmanska 1 81­116 GDYNIA POLAND (iv) Mme Anna Kowalska Ul. Bosmanska 1 81­116 GDYNIA POLAND
h,J,K,L,M,N and O are the only legislators eligible to vote on Bills 1,2 and 3, each of which will be passed if at least four legislators eligible vote in favor of it. each legislator must vote on all three bills; on abstentions are possible. The following is known : *H must vote against all three bills; each of the other legislators must vote in favor of at least one bill and against at lest one bill. *j must vote against Bills 1. *O Must vote against Bills 2 and 3. * L must the same way that K dose on all three bills.*N must vote the same way that O dose on all three bills. If M votes the same way that O dose on all three bills, which of the following can be determined ?
h,J,K,L,M,N and O are the only legislators eligible to vote on Bills 1,2 and 3, each of which will be passed if at least four legislators eligible vote in favor of it. each legislator must vote on all three bills; on abstentions are possible. The following is known : *H must vote against all three bills; each of the other legislators must vote in favor of at least one bill and against at lest one bill. *j must vote against Bills 1. *O Must vote against Bills 2 and 3. * L must the same way that K dose on all three bills.*N must vote the same way that O dose on all three bills. which of the following must vote in favor of Bill 1 ?
h,J,K,L,M,N and O are the only legislators eligible to vote on Bills 1,2 and 3, each of which will be passed if at least four legislators eligible vote in favor of it. each legislator must vote on all three bills; on abstentions are possible. The following is known : *H must vote against all three bills; each of the other legislators must vote in favor of at least one bill and against at lest one bill. *j must vote against Bills 1. *O Must vote against Bills 2 and 3. * L must the same way that K dose on all three bills.*N must vote the same way that O dose on all three bills. which of the following cannot be true ?
h,J,K,L,M,N and O are the only legislators eligible to vote on Bills 1,2 and 3, each of which will be passed if at least four legislators eligible vote in favor of it. each legislator must vote on all three bills; on abstentions are possible. The following is known : *H must vote against all three bills; each of the other legislators must vote in favor of at least one bill and against at lest one bill. *j must vote against Bills 1. *O Must vote against Bills 2 and 3. * L must the same way that K dose on all three bills.*N must vote the same way that O dose on all three bills. If any bill is to be passed,which of the following must be among the legislators who vote in favor of it?
h,J,K,L,M,N and O are the only legislators eligible to vote on Bills 1,2 and 3, each of which will be passed if at least four legislators eligible vote in favor of it. each legislator must vote on all three bills; on abstentions are possible. The following is known : *H must vote against all three bills; each of the other legislators must vote in favor of at least one bill and against at lest one bill. *j must vote against Bills 1. *O Must vote against Bills 2 and 3. * L must the same way that K dose on all three bills.*N must vote the same way that O dose on all three bills. The maximum number of favorable votes that Bill 2 could receive is ---
Give correct response to:
1. A Money Bill cannot be introduced in Rajya Sabha
2. All Financial Bills are not Money Bills
3. A Money Bills can be introduced only in Lok Sabha on the recommendation of the President
4. Rajya Sabha is fully empowered to reject or amend a Financial Bill as it does in the case of ordinary bill
Which of the following statements is NOT true regarding bills? The legislative procedure is identical in both the Houses of Parliament. Every bill has to pass through the same stages in each House. A bill is a proposal for legislation and it becomes an act or law when duly enacted. Bills introduced in the Parliament are of 3 kinds: public bills, private bills, and government bills.