Wednesday, March 29, 2017

What is the difference between a Money Bill & a Finance Bill?

In the Parliament whenever the Budget session starts the Ruling and Opposition Parties Deliberate on whether the Bill to be introduced should be a Money Bill or Finance Bill, Recently the NDA Govt. has passed the Four (4) supplementary GST Bills as a Money Bill despite the opposition demand for Finance Bill.  But for the common man Money Bill and Finance Bill are a confusing one. Hence this article is based on to distinguish between the two types of Bills.

[Money Bills are governed by articles 108, 109, 110, 111 and 117 of the Constitution and Rules 72, 96, 103 to 108 of the Rules of Procedure and Conduct of Business in Lok Sabha.]

Source: Central Govt. Act  - Constitution of India, Indian Express, Economic Times  & GK Toda