Q. Which of the following differences between finance bill and money bill is/are correct?
All financial bills are money bills but not all money bills are financial bills.
While recommendation of President is required for introducing money bills; recommendation of President is not required for introducing any type of financial bill.
While Rajya Sabha cannot amend or reject the money bill; financial bills can be rejected or amended by the Rajya Sabha.
Choose the correct answer using the codes given below: Answer:
Only 3
Notes:
All money bills are financial bills but not all financial bills are money bills.
The recommendation of President is required for both money bill and financial bill I but not required for financial bill II.
Money bill can not be rejected or amended by the Rajya Sabha. Both financial bill I and II can be amended and rejected by the Rajya Sabha.
Speaker of the Lok Sabha decides whether it is a money bill or not. No such provision for financial bill I and II.
Money bill and financial bill I can be introduced only in the Lok Sabha. Financial bill II can be introduced in any House.
There is no provision of joint sitting in case of a deadlock over money bill. President can summon the Houses in case of a deadlock over financial bill I and II.
Money bill only deals with provisions mentioned in Article 110. Financial bill not only deals with provisions of Article 110but also other matters of general legislation. Financial bill II deals with provisions on expenditure from the Consolidated Fund of India but is nor included in Article 110.
Money bill is a government bill and financial bill I and II are ordinary bills.