Monday, September 03, 2012

Money Bill

What are Money Bills: Money Bills are those that are classified under Article 110 (1) of the Constitution of India. Every Money Bill is essentially a financial bill but not every financial bill is a money bill.

Under article 110(1) of the Constitution, a Bill is deemed to be a Money Bill if it contains only provisions dealing with all or any of the following matters, namely:

  • (a) the imposition, abolition, remission, alteration or regulation of any tax;
  • (b) the regulation of the borrowing of money or the giving of any guarantee by the Government of India, or the amendment of the law with respect to any financial obligations undertaken or to be undertaken by the Government of India;
  • (c) the custody of the Consolidated Fund or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such fund;
  • (d) the appropriation of moneys out of the Consolidated Fund of India;
  • (e) the declaring of any expenditure to be expenditure charged on the Consolidated Fund of India or the increasing of the amount of any such expenditure;
  • (f) the receipt of money on account of the Consolidated Fund of India or the public account of India or the custody or issue of such money or the audit of the accounts of the Union or of a State; or
  • (g) any matter incidental to any of the matters specified in sub-clauses (a) to (f).
Procedure for a Money Bill:
  • Money Bills can be introduced only in Lok Sabha (the directly elected 'people's house' of the Indian Parliament).
  • Money bills passed by the Lok Sabha are sent to the Rajya Sabha (the upper house of parliament, elected by the state and territorial legislatures or appointed by the president). The Rajya Sabha may not amend money bills but can recommend amendments. A money bill must be returned to the Lok Sabha within 14 days or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha.
  • 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.
  • A money bill is deemed to have passed both houses with any recommended amendments the Lok Sabha chooses to accept, (and without any that it chooses to decline).
  • The definition of "Money Bill" is given in the Article 110 of the Constitution of India. A financial bill is not a Money Bill unless it fulfills the requirements of the Article 110.
  • The Speaker of the Lok Sabha certifies if a Finance bill is a Money Bill or not.
Difference between Money Bill and Financial Bill:
  1. Money Bill deals solely with matters specified in article 110(1) (a) to (g) of the Constitution, while a Financial Bill does not exclusively deal with all or any of the matters specified in the said article that is to say it contains some other provisions also.
  2. Financial Bills can be divided into two categories. In the first category are Bills which inter-alia contain provisions attracting article 110(1) (a) to (f) of the Constitution. They are categorised as Financial Bills under article 117(1) of the Constitution.
  3. Like Money Bills, they can be introduced only in Lok Sabha on the recommendation of the President. However, other restrictions in regard to Money Bills do not apply to this category of Bills.
  4. Financial Bill under article 117(1) of the Constitution can be referred to a Joint Committee of the Houses. In the second category are those Bills which inter-alia contain provisions which would on enactment involve expenditure from the Consolidated Fund of India. Such Bills are categorised as Financial Bills under article 117 (3) of the Constitution. Such Bills can be introduced in either House of Parliament. However, recommendation of the President is essential for consideration of these Bills by either House and unless such recommendation is received, neither House can pass the Bill.

CENSUS 2011: Highlights | Current Affairs

  • The census was conducted in two phases.
  • The first houselisting phase began on April 1, 2010 and involved collection of data about all the buildings and census houses. Information for National population register was also collected in the first phase.
  • The second population enumeration phase was conducted from 9 to 28 February 2011 all over the country.
  • The population of India at 0:00 hours of 1 March 2011 was 1,210,193,422.
  • India added 181 million to its population since 2001.
  • India with 2.4% of the world's surface area accounts for 17.5 % of its population.
  • Uttar Pradesh is the most populous state with roughly 200 million people.
  • Any one above age 7 who can read and write in any language with an ability to understand was considered a literate.
  • The literacy rate taking the entire population into account is termed as "crude literacy rate", and taking the population from age 7 and above into account is termed as "effective literacy rate".
  • Effective literacy rate increased to a total of 74.04% with 82.14% of the males and 65.46% of the females being literate.
  • Density of population per km2 382.
  • Sex ratio per 1000 males 940 females.
  • Child Sex ratio (0-6 age group) per 1000 males 914 female.

Important Commissions of India | General Knowledge

  • LAW COMMISSION OF INDIA
  • DELIMITION COMMISSION
  • NATIONAL COMMISSION FOR WOMAN
  • CENTRAL VIGILANCE COMMISSION
  • COMPETITION COMMISSION OF INDIA
  • NATIONAL COMMISSION FOR BACKWARD CLASSES
  • NATIONAL COMMISSION ON POPULATION
  • NATIONAL COMMISSION FOR SCHRDULED CASTES
  • NATIONAL HUMAN RIGHTS COMMISSION
  • PUBLIC GRIEVANCES COMMISSION
  • ELECTION COMMISSION OF INDIA
  • NATIONAL COMMISSION FOR MINORITIES
  • CENSUS COMMISSION OF INDIA
  • CENTRAL WATER COMMISSION
  • MONOPOLIES AND RESTRICTIVE TRADE PRACTICES COMMISSION
  • NATIONAL COMMISSION FOR SCHEDULED TRIBES
  • NATIONAL CONSUMER DISPUTES REDRESSAL COMMISSION
  • PLANNING COMMISSION
  • SETTLEMENT COMMISSION (IT/WT)
  • UNION PUBLIC SERVICE COMMISSION
  • STAFF SELECTION COMMISSION