All You Need To Know About Money Bill (article110)
Introduction
A money bill is defined in Article 110 of the Indian Constitution. Money bill covers money-related topics like taxes, government spending, and other things. A Money Bill generally only becomes an Act with the President of India's approval.
A Money Bill Is Exactly What?
• Article 110 of the Constitution defines a money bill as "a proposed law containing primarily provisions dealing with all or any of the topics specified therein."
• A bill can only be categorized as a money bill if it meets a few requirements.
• Examples include the Aadhaar and other legislation (Amendment) Bill, 2019, the Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020, and the Appropriation Bill, 2021. Judges of the Supreme Court and the High Court (Salaries and Conditions of Service) 2017 Amendment Bill.
Provisions
• The Clauses That Make the Bill a bank note.
• Any tax that is levied, removed, paid, changed, or monitored.
• Regulation of the GOI's borrowing of funds.
• Money transfers into or out of the Consolidated Fund of India (CFI) or the Contingency Fund of India (CFI).
• The taking of funds from the CFI.
• Any declaration of or increase in the amount of CFI-charged expenses.
• Receiving monies for the CFI or the public account of India, handling such funds in custody or disbursement, or performing an audit of the Union's or a state's financial records.
• Any issue that is connected to any of the concerns mentioned above
• When a bill cannot be regarded as a money bill is also laid down in Article 110 of the Indian Constitution. These rules are listed below:
• If a bill is used to impose fines or other monetary penalties, it is not referred to as a money bill.
• Licensing fees or fees for rendered services are sought or paid.
• Any tax levied, eliminated, paid, modified, or regulated by a local government or organization for local goals.
Money Bill-Related Controversies
• Aadhaar Bill (Targeted Delivery of Financial & Other Subsidies Benefits & Services), 2016 was a recently proposed piece of legislation that was introduced as a money bill in March 2016. This was unusual because, according to India's constitution, a money bill only needs to be approved by the Lok Sabha to become law.
• Once more, the Finance measure's approval sparked discussion because it included 40 amendments to other statutes that opponents argued shouldn't be included in a money measure because they had nothing to do with money.
• The opposition claims that because the Finance Bill was a money bill and the Rajya Sabha, where the ruling NDA is in the minority, did not need to approve it, the government slipped a number of non-financial amendments into it. As a result, the parliament's review of legislation is disregarded.
Stages of A Money Bill's Passage
• Money Bills, unlike Ordinary Bills, are only introduced in the Lok Sabha on the President's required proposal.
• The measure is referred to as a government bill and was introduced in the Lok Sabha at the President's advice.
• It should be remembered that the Minister alone is responsible for introducing all government bills.
• The measure is referred to the Rajya Sabha, which has very little power, once the Lok Sabha approves it. It lacks the power to reject or change the bill.
• There is no chance of disagreement, hence a joint sitting discussing money bills is not allowed.
• The bill is certified as a money bill by the Lok Sabha speaker, and his determination is definitive in this matter.
• When the law has been approved by both chambers, the President's approval is needed. He has the option of assenting or not, but he cannot refer a bill for reconsideration.
• The law is published in the Indian Statute Book as an act after receiving the President's approval.
Conclusion
The Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits, and Services) Bill, 2016, was recently introduced as a Money Bill, sparking a contentious debate in Parliament. A money bill is an idea borrowed from British parliamentary procedure. In India's Article 110, judicial review of the Speaker's decision is not expressly banned, in contrast to the United Kingdom where it is.
Money bills only exist to stop the Rajya Sabha from overthrowing a government by denying it access to the exchequer for daily administration. It is disrespectful to the Constitution's form, which Ambedkar and the Constituent Assembly considered sacred, to use it to undercut the Upper House's democratic role in enacting substantive law.