Current Affairs

GK MCQs Section
Q. Consider the following statements regarding Money Bills and Finance Bills:
  1. Money Bill deals exclusively with taxation, borrowing and expenditure, whereas Finance Bill includes a wider range of financial matters.
  2. Only Finance Bill requires a certificate from the Speaker of Lok Sabha.
Which of the above statements is/are correct?
Answer: Only 1
Notes: Statement 1 is correct: Money Bill covers taxation, borrowing, and expenditure, while a Finance Bill may include other provisions. Statement 2 is incorrect: Only the Money Bill requires certification by the Speaker of Lok Sabha, whereas the Finance Bill does not. This distinction is essential per Articles 110 and 117 of the Indian Constitution.
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