Tags : GS Prelims Paper 1 GS Mains Paper 3 Prelims Facts Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc. Indian Economy and issues relating to planning, mobilization, of resources, growth, development, and employment
Article 110 of the Constitution deals with the definition of Money Bills.
It states that a bill is deemed to be a money bill if it contains ‘only’ provisions dealing with all or any of the following matters:
  1. The imposition, abolition, remission, alteration, or regulation of any tax;
  2. The regulation of the borrowing of money by the Union government;
  3. The custody of the Consolidated Fund of India or the contingency fund of India, the payment of money into or the withdrawal of money from any such fund;
  4. The appropriation of money out of the Consolidated Fund of India;
  5. Declaration of any expenditure charged on the Consolidated Fund of India or increasing the amount of any such expenditure;
  6. 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 a state; or
  7. Any matter incidental to any of the matters specified above.
The specialty of Money Bill
  • If any question arises whether a bill is a money bill or not, the decision of the Speaker of the Lok- Sabha is final.
  • A money bill can only be introduced in the Lok Sabha and that too is on the recommendation of the president. 
  • Every such bill is considered to be a government bill and can be introduced only by a minister.
  • The Rajya Sabha has restricted powers about a money bill. 
  • It cannot reject or amend a money bill. 
  • It can only make recommendations. 
  • It must return the bill to the Lok Sabha within 14 days, whether with or without recommendations. 
  • The Lok Sabha can either accept or reject all or any of the recommendations of the Rajya Sabha.
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