Difference Between Money Bill and Financial Bill

The Difference Between Money Bill and Financial Bill are as follows:

Feature Money Bill Financial Bill
Initiation Only in Lok Sabha (House of the People) Can be introduced in either Lok Sabha or Rajya Sabha (Council of States)
Recommendation of President Not required Required (before introduction in Lok Sabha)
Definition Exclusively deals with matters specified in Article 110 of the Constitution, primarily related to taxation and public expenditure Covers a broader range of financial matters, including taxation but not limited to those specified in Article 110
Exclusive Power Solely under the control of Lok Sabha Requires the approval of both houses for enactment
Role of Rajya Sabha Rajya Sabha can only suggest amendments and must pass within 14 days (without the power to reject) Rajya Sabha has equal legislative powers; can amend, reject, or delay the bill
Presidentā€™s Assent President must give assent within 14 days of receiving it Presidentā€™s assent is required, but there is no time limit for giving assent

Legislative Procedure in Parliament

The legislative procedure is commonly characterized as a series of acts used to consider and enact laws, i.e. the process of deliberation, adoption, and publication of laws. The legislative process involves numerous necessary stages that must be completed in a specific order. The legislative procedure allows for detailed scrutiny and discussion. If approved by the originating house, the bill proceeds to the other house for further consideration. Once both houses agree on the final version, the bill is submitted to the President for assent. After the presidentā€™s assent, the bill becomes law. This structured and deliberative process reflects the democratic principles that govern Indiaā€™s parliamentary system.

Table of Content

  • What is Legislative Procedure?
  • What is Bill?
  • Classification of Bill
  • Difference Between Public Bill and Private Bill
  • Stages of Formation of an Act in Parliament
  • Difference Between Money Bill and Financial Bill
  • Constitutional Amendment Bills
  • Ordinance
  • Advantages of Legislative Procedures
  • Disadvantages of Legislative Procedures

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What is Legislative Procedure?

The legislative procedure in the Parliament of India is a multi-stage process involving both houses, the Lok Sabha (House of the People) and the Rajya Sabha (Council of States). Laws are made by the parliament for the whole country and by the state governments for their respective states. Legislative powers of the center and state are defined in the constitution and are divided into three lists: Union list, State list, Concurrent list. The legislative process in both houses follows the same procedure and after the bill is passed in the parliament and gets the presidentā€™s assent, it becomes an act or law....

What is Bill?

A ā€œbillā€ refers to a legislative proposal that is presented to a legislative body for consideration and approval. The process of turning a bill into law involves several stages including multiple readings, committee reviews, and debates in both houses of Parliament. Bills introduced in the Parliament are of two types:Ā public billsĀ or government billsĀ and private bills....

Classification of Bill

Bill can be classified into four types:...

Difference Between Public Bill and Private Bill

The Difference Between Public Bill and Private Bill are as follows:...

Stages of Formation of an Act in Parliament

A bill before passing in the parliament is only a legislative proposal and has to pass through various stage before it become an act. The stages through which a bill passes are as follows:...

Difference Between Money Bill and Financial Bill

The Difference Between Money Bill and Financial Bill are as follows:...

Constitutional Amendment Bills

Under article 368, a Constitutional Amendment Bill can be introduced in either house of Parliament. For the passage of the bill special majority is required, with approval from a majority of the total membership and two-thirds of the members present and voting. It has to be passed by each house separately by a special majority. Unlike other bills, the President cannot withhold assent or return it for reconsideration. In case of a deadlock between the two houses, there is no provision for a joint sitting. Some amendments also require ratification by a majority of the state legislatures....

Ordinance

WhenĀ ParliamentĀ is not in session than on the President satisfaction ordinance can be promulgated under article 123 on the recommendation of theĀ Union Cabinet. An ordinance has same force and effect as an act of Parliament. Ordinance shall cease to operate if not passed by the Parliament before the expiration of six weeks from its reassembly.Ā Ordinance can not be issued for the constitutional amendment bill....

Advantages of Legislative Procedures

The advantages of Legislative Procedures are as follows:...

Disadvantages of Legislative Procedures

The disadvantages of Legislative Procedures are as follows:...

FAQs on Legislative Procedure

1. What is Legislative Procedure?...

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