The government of India defended the passing of the Finance Act, 2017 as a Money Bill before a Constitution Bench on the ground that the Lok Sabha Speaker’s certification of Money Bill was final.
About:
Types of Bills: There are four types of Bills, namely (i) Constitution Amendment Bills; (ii) Money Bills; (iii) Financial Bills; and (iv) Ordinary Bills.
Money Bills:
Under Article 110(1), a Bill is said to be a Money Bill if it only contains provisions related to taxation, borrowing of money by the government, expenditure from or receipt to the Consolidated Fund of India.
Bills that only contain provisions that are incidental to these matters would also be regarded as Money Bills.
Who decides if a Bill is a Money Bill? The Speaker certifies a Bill as a Money Bill, and the Speaker’s decision is final.
Passage of Money Bills:
A Money Bill may only be introduced in Lok Sabha, on the recommendation of the President.
It must be passed in Lok Sabha by a simple majority of all members present and voting.
Following this, it may be sent to the Rajya Sabha for its recommendations, which Lok Sabha may reject if it chooses to. If such recommendations are not given within 14 days, it will deemed to be passed by Parliament.
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