In the Indian Parliament there are different types of bills and amendments are introduced. You see the Union budget, several laws and many other bills that are presented by lawmakers in the temple of democracy. However, finance is something of which many nations talk about. So, money bills and ordinary bills are presented in the Indian Parliament. Again, many students are confused by their differences. Do you know what thedifference between ordinary bill and money bill is?
Likewise many students are unaware of the difference-between-finance-bill-and-money-bill. Hence, if you are appearing in any competitive exams like UPSC or others, you have to carry the fundamental knowledge in clearing this exam.
First, let us discuss what all bills are available that are introduced in front of the parliament.
The Article 107, and 108 discusses an ordinary bill that is concerned to non-financial matters in the nation.
The Article 110 Money Bill deals with national financial matters like taxation, public expenditure and many more.
Two Indian Constitution’s articles Article 117 [1], and Article 117[3]) is the financial bill dealing with all financial matters but those issues are not included in the money bill.
Constitutional Amendment bill that deals with our amendments that need to be a part of our nation. And as far as knowledge of amendments are concerned every exam candidate must have the knowledge on the same.
Now, let’s come to the gist of this content. Read on difference between the money bill and ordinary bill
Key differences between money bill and ordinary bill
Money bill definition
Money bill must contain all tax regulation provisions, tax adjustments, their abolition, remission that is in accordance with Indian Constitution’s Article 110. This bill should be introduced in Lok Sabha and only ministers have the power to intrude in this bill
Ordinary Bill definition
According to the definition and Indian Constitution’s Article 107, this bill deals with any crucial issues or general matters excluding finance, hence we call it as an ordinary bill. A private member or any ministry in the Parliament can bring this bill.
This bill can be easily brought into the Parliament without a President’s approval. However, the upper house or the Rajya Sabha of the Indian Parliament has powers to change or reject this bill.
Key differences
Ordinary Bill
There is no approval mandatory from Speakers to introduce an ordinary bill in the Lok Sabha and can be sent to the Rajya Sabha.
Once passed in both Parliament houses Lok Sabha and the Rajya Sabha, this ordinary bill was later sent to the Indian President.
The President has the power to accept, reject or as the house of Parliament to review the ordinary bill.
The Rajya Sabha has the power to reject or alter this bill.
Money Bill
Money Bill cannot get returned by the President. However, the President of India has the power to approve or reject the bill.
Only ministers in the Parliament have the power to introduce this bill in the Indian Parliament.
This bill can be introduced only in the Lok Sabha.
Maximum 14 days is there to hold money in Rajya Sabha but ordinary bills can be held for six months maximum.
After the President’s recommendation only this bill can be introduced in the Parliament and that too in the Rajya Sabha
