Such bills may be introduced in either House by a Minister or a private member. A private member has to seek permission of the House before introducing the Bill, which is normally given. Thereafter, the Bill is discussed by the House and is put to vote. In case of bills other than Money Bills, a simple majority is required to pass them (at least 50 percent of those present and voting in the House must approve it).
After passage in one House, the Bill goes to the other House. There, it undergoes all the stages again as it has in the earlier House. The other House may subsequently
1. Reject the Bill altogether
2. Pass the Bill with amendments. If on return to the originating House, the amendments are accepted by it, the Bill goes for presidenial assent. However, if the originating House does not agree to the amendments proposed by the other House, there is a deadlock and the provision of a Joint Sitting may be applied in such cases.
3. May take no action on it. If more than 6 months elapse in this manner, the President may summon a Joint Sitting.
Though in most spheres, the Lok Sabha and the Rajya Sabha are equal in matters of their rights, certain special privileges are enjoyed by the Lok Sabha and the Rajya Sabha separately. For example,
1. Only the Rajya Sabha can recommend the creation of one or more All-India Services.
2. Only the Rajya Sabha can pass a resolution to enable the Parliament to make a law on anything in the State List.
Similarly, the Lok Sabha enjoys certain special powers like the unique ability to introduce a money bill and its dominant role in passing it.
A money biil is one dealijng with
A. imposition, abolition, reduction, alteration, remission or regulation of any tax OR / AND
B. taking out / depositing money from / into the Consolidated Fund/ Contingency Fund of India (Art. 110) ONLY
On the other hand, a Financial Bill is one which deals with taxation plus some other provisions. That is why the Annual Budget is known as the Annual Finance Bill because it contains many provisions apart from those related to taxes.
A Money Bill can be introduced only in the Lok Sabha on the President's recommendations. The decision of the Lok Sabha Speaker is final in certifying whether a Bill is a Money Bill or not. The Rajya Sabha cannot initiate a Money Bill nor can it reject or amend it after passage by the Lok Sabha. The Rajya Sabha must return a Money Bill within 14 days after which the Lok Sabha may accept any of its recommendations. In case the Rajya Sabha recommendations are accepted by the Lok Sabha, the Bill is be deemed to have been passed by both the Houses. If the Lok Sabha does not accept the Rajya Sabha recommendations, the Bill will be deemed to be passed by both the Houses.
Further, if the Rajya Sabha does not return the Bill within 14 days of its receipt, it will be deemed to have been passed.
The net result is that the Rajya Sabha does not have much say in matters of Money or Finance Bills. For example, in case of Annual Budget, the Rajya Sabha can discuss it or propose amendments but it is not obligatory for the Lok Sabha to accept them.
The President is bound to give his assent to a Money Bill so passed in the first instance itself and cannot withhold his assent or return it to Parliament.
In the Lok Sabha, estimates of expenditures are submitted in the form of Demands-For-Grants on particular heads and are followed by a vote of the House on each head. After voting, the grants so made by the Lok Sabha and the expenditures charged on the Consolidated Fund of India (which are non-votable like the salaries of Supreme Court / High Court Judges, President’s salary and other office expenses) are included in an Appropriation Bill, providing legal authority for drawing money from the Consolidated Fund of India.
A Bill is defined as a Money Bill if it contains any of the following provisions ONLY
A. imposition, abolition, reduction, alteration, remission or regulation of any tax
B. taking out / depositing money from / into the Consolidated Fund / Contingency Fund of India (Art. 110)
On the other hand, a Finance Bill is one which deals with taxation plus some other provisions. That is why the Annual Budget is known as the Annual Finance Bill because it contains many provisions apart from those related to taxes.