Prime Minister of India in Kannada for UPSC | ಭಾರತದ ಪ್ರಧಾನ ಮಂತ್ರಿ

Financial bills

• Definition: Financial bills address matters related to government revenue or expenditure.
• Categories:
  1. Money Bills (Article 110): Deal exclusively with provisions listed in Article 110, such as taxation, Consolidated Fund of India, and borrowing. They are certified as money bills by the Speaker of the Lok Sabha.
  2. Financial Bills (I) (Article 117(1)): Include matters from Article 110 but also contain other general legislative provisions.
  3. Financial Bills (II) (Article 117(3)): Relate to expenditure but do not include any Article 110 matters.

Key Point: All money bills are financial bills, but not all financial bills qualify as money bills. Only money bills meet the strict criteria set by Article 110.

Financial Bills (I):

1. Definition:

   • A Financial Bill (I) includes provisions from Article 110 (Money Bill matters) and other general legislative matters.
   • Example: A bill with a borrowing clause but not exclusively about borrowing.

2. Similarities with Money Bills:

   • Can only be introduced in the Lok Sabha, not in the Rajya Sabha.
   • Requires the President's recommendation for introduction.

3. Procedure:

   • Governed by the same legislative process as an ordinary bill, unlike Money Bills.
   • The Rajya Sabha can amend or reject the bill, except amendments affecting tax reduction or abolition require the President's recommendation.

4. Deadlock Resolution:

   • If disagreements arise between the Lok Sabha and Rajya Sabha, the President can summon a joint sitting to resolve the issue.

5. President's Assent:

   • The President may give assent, withhold assent, or return the bill for reconsideration.

Financial Bills (II):

1. Definition:

   • Includes provisions involving expenditure from the Consolidated Fund of India but excludes matters under Article 110 (Money Bills).

2. Procedure:

   • Treated as an ordinary bill in terms of legislative process.
   • Can be introduced in either House of Parliament.
   • The President's recommendation is required at the consideration stage but not at the introduction stage.

3. Legislative Process:

   • Can be amended or rejected by either House of Parliament.
   • In case of a disagreement between the two Houses, the President can summon a joint sitting to resolve the deadlock.

4. President’s Role:

   • The President can:
     a. Give assent.
     b. Withhold assent.
     c. Return the bill for reconsideration.

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