SIMPLIFIER: FINANCIAL BILLS IN THE INDIAN CONSTITUTION
FINANCIAL BILLS UNDER ARTICLE 117
Q: What are the types of Financial Bills under Article 117 of the Indian Constitution?
A: Article 117 categorizes Financial Bills into two types: Financial Bills Type I and Financial Bills Type II.
Q: What is a Financial Bill Type I?
A: Financial Bill Type I, also known as Money Bill Plus, includes provisions of a Money Bill and additional elements of an ordinary bill. It requires the President's prior recommendation and can only be introduced in the Lok Sabha.
Q: What is a Financial Bill Type II?
A: Financial Bill Type II is an ordinary bill with financial implications, entailing expenditure from the Consolidated Fund of India (CFI). It follows the procedure of an ordinary bill but requires the President's recommendation before the second reading.
Q: What powers does the Rajya Sabha have regarding Financial Bill Type I?
A: The Rajya Sabha can suggest amendments to Financial Bill Type I, has up to six months to deliberate on the bill, can reject the bill, and can call for a joint session if there is a deadlock with the Lok Sabha.
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