Money bills is a term used by the Parliament of India to refer to legislation bills which exclusively contain provisions for imposition and abolition of taxes, for uses such as appropriation of money out of the Consolidated Fund, etc.
Procedure for a Money Bill
Money Bills can be introduced only in Lok Sabha (the directly elected 'people's house' of the Indian Parliament).
Money bills passed by the Lok Sabha are sent to the Rajya Sabha (the upper house of parliament, elected by the state and territorial legislatures or appointed by the president). The Rajya Sabha may not amend money bills but can recommend amendments. A money bill must be returned to the Lok Sabha within 14 days or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha.
When a Money Bill is returned to the Lok Sabha with the recommended amendments of the Rajya Sabha it is open to Lok Sabha to accept or reject any or all of the recommendations.
A money bill is deemed to have passed both houses with any recommended amendments the Lok Sabha chooses to accept, (and without any that it chooses to decline).
In the Westminster system, a moneybill or supply bill is a bill that solely concerns taxation or government spending (also known as appropriation of money), as opposed to changes in public law.
Moneybills passed by the Lok Sabha are sent to the Rajya Sabha (the upper house of parliament, elected by the state and territorial legislatures or appointed by the president).
A moneybill must be returned to the Lok Sabha within 14 days or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha.
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