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Doctors Medicines MCQs Q&A

  1. Amendment of law with respect to any financial obligations under taken by the Government of India
  2. The payment of money into the Consolidated Fund of India
  3. Any financial bill as per requirements of Article 117
  4. Appropriation of money out of Consolidated Fund of India
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Option 3 : Any financial bill as per requirements of Article 117

Option 3 is not the correct answer, i.e. Any financial bill as per the requirements of Article 117.

Money Bill:

  • Article 110 of the Indian Constitution lays the definition of Money Bill.
  • According to it, the bills pertaining to following matters are deemed  to be Money Bills:
    • Related to imposition, abolition or remission of taxes.
    • Borrowing by the government.
    • Matters pertaining to custody, withdrawal/appropriation from, payments to the Consolidated or Contingency funds of India.
    • Any matter incidental with above.
  • Money can be introduced only in Lok Sabha and not in Rajya Sabha and that too on the recommendation of the President.
  • The Rajya Sabha can neither amend nor reject the money bill, it can only make a recommendation about it which can either be accepted or rejected by the Lok Sabha.
  • The deciding authority for a bill to be a money bill or not lies with the Speaker of the Lok Sabha.
  • The President can either approve or reject the bill, but he cannot return it to the Lok Sabha for its reconsideration.
  • Article 117 deals with the provisions related to Financial Bills.
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