Difference between ordinary bills, money bills, financial bills, and constitutional amendment bills
An ordinary bill is introduced in either House of the Parliament. This bill is introduced by Minister or a Private member. There is no recommendation of the President in the case of an ordinary bill. Ordinary bills can be amended/rejected by Rajya Sabha and they can be detained by Rajya Sabha for a period of six months.
A Finance Bill is a Bill that, as the name suggests, concerns the country's finances — it could be about taxes, government expenditures, government borrowings, revenues, etc. As per Article 117 of the Indian Constitution, financial bills are those bills that are concerned with financial matters but are different from money bills. Financial bills are further classified as Financial bills Categories A and B. Category A Bills contain provisions dealing with any of the matters specified in sub-clause a to f of clause 1 of Article 110 Indian Constitution and Category B Bills involve expenditure from the Consolidated Fund of India. Since the Union Budget deals with these things, it is passed as a Finance Bill.
There are different kinds of Finance Bills — the most important of them is the Money Bill. The Money Bill is concretely defined in Article 110.
Money Bills are those Bills that contain only provisions dealing with all or any of the matters specified in sub-clauses (a) to (f) of clause (1) of Article 110 of the Constitution.
|Provisions for Money Bill in India|
|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 of a state|
|7||Any matter incidental to any of the matters specified above|
Article 368 of the Indian Constitution is concerned with the provisions of the amendment of the Constitution.