Q. Regarding Money Bill, which of the following statements is not correct? (UPSC Prelims 2018)
Answer:
A Money Bill is concerned with the appropriation of moneys out of the Contingency Fund of India.
Notes: The correct answer is
[C] A Money Bill is concerned with the appropriation of moneys out of the Contingency Fund of India. Under the Constitution of India, Money Bills deal specifically with the Consolidated Fund, not the Contingency Fund.
- Statement [C] is Incorrect: According to Article 110(1)(d), a Money Bill deals with the appropriation of moneys out of the Consolidated Fund of India. The Contingency Fund (Article 267) is placed at the disposal of the President to meet unforeseen expenditures pending authorization by Parliament; it is not the subject of "appropriation" in the context of a Money Bill.
- Statement [A] is Correct: Article 110(1)(a) explicitly states that a bill is a Money Bill if it deals with the imposition, abolition, remission, alteration, or regulation of any tax.
- Statement [B] is Correct: Article 110(1)(c) covers the custody of the Consolidated Fund of India or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such fund.
- Statement [D] is Correct: Article 110(1)(b) includes the regulation of the borrowing of money or the giving of any guarantee by the Government of India.
Key Facts about Money Bills:- Certification: The Speaker of the Lok Sabha has the final authority to decide whether a bill is a Money Bill or not.
- Introduction: It can only be introduced in the Lok Sabha on the recommendation of the President.
- Rajya Sabha's Role: The Rajya Sabha has limited powers; it cannot reject or amend a Money Bill and must return it within 14 days.