Veto Powers in The Money Bill

A. Power of President:

Article 111 of the Indian Constitution governs the President of India’s veto power. The powers of the Governor with relation to giving assent to laws enacted by the State legislature and additional authorities of the Governor, such as reserving the bill for the President’s consideration, are covered in Article 200 of the Indian Constitution. Bills that are “Reserved for Consideration” are covered by Article 201. The Indian Governor has complete veto power, suspensive veto (apart from over money measures), but not pocket veto. Three different veto powers exist. They are the pocket veto, the absolute veto, and the suspensive veto.

1. Absolute Veto: It alludes to the President’s ability to refuse to sign a bill approved by the Parliament. The bill then expires without being passed into law.
2. Suspensive Veto: When sending the bill back to the Indian Parliament for reconsideration, the President exercises a suspensive veto. The President must adopt the law without exercising any of his veto powers if the Parliament resends it to him with or without amendments.
3. Pocket Veto: When the President uses his pocket veto, the bill is kept on the table indefinitely. He does not return the bill for further review or rejects it.

B. Power of Governor:

1. Ordinary Bill:

When a governor reserves a law for the president’s consideration, he is no longer involved in the bill’s enactment. Even if the President refers it to the Assembly for reconsideration, the Bill will still be brought before the President and not the Governor following the reconsideration.

2. Money Bill:

The Bill cannot be returned to the Assembly for further consideration by the governor. If the Governor holds the Money Bill for the President’s consideration, his responsibility is complete.

Article 110 of the Indian Constitution defines a money bill. Money bills deal with money-related issues like taxation, government spending, etc. The bill is essential for Indian politics and governance because it touches on numerous critical subjects, including the Aadhaar Bill and the Insolvency and Bankruptcy Bill. If a bill has “just” provisions addressing all or any of the following topics, it is regarded to be a money bill.

• The levying, repealing, waiving, changing, or regulating of any tax;
• The control of the Union government’s borrowing of funds;
• The administration of the Indian contingency fund or the Consolidated Fund of India, as well as the payment of funds into or withdrawals from any such fund;
• The taking of funds from the Consolidated Fund of India;
• Declaring any expense to be paid from the Consolidated Fund of India or increasing any such expense’s amount;
• Receiving funds on behalf of the Consolidated Fund of India or the public account of India, holding or disbursing those funds, or conducting an audit of the Union’s or a state’s financial records;
• Any issue related to one of the aforementioned issues.