Bank PO & Clerk General Awareness Bills in Parliament
The four kinds of bills mentioned in the Constitution are:
- Ordinary Bill
- Money Bill
- Financial Bill
- Constitutional Amendment Bill
General Awareness Bills in Parliament
1. Ordinary Bill:
Any bill other than Money, Financial or Constitution Amendment bill is called an Ordinary bill.
It can be introduced in either Houses of the Parliament.
It does not need the recommendation of the President for its introduction in Parliament (except a bill under article 3).
It is passed by a simple majority by both the Houses.
They enjoy equal legislative powers over the passage of an ordinary bill.
If there is a deadlock over the bill it can be resolved in a joint sitting of both the Houses of Parliament.
2. Money Bill:
A bill that deals exclusively with money matters that are mentioned in Article 110 in Constitution is called a Money Bill. These Money matters are:
(1) Imposition, abolition or alteration of any tax.
(2) The borrowing of any money or giving any guarantee by the Govt. of India.
(3) The custody of the Consolidated Fund of India or Contingency fund of India or deposition or with drawl of any money from any such funds.
(4) The appropriation of the money out of the Consolidated Fund of India.
(5) Declaring any expenditure as charged on the Consolidated Fund of India.
(6) The receipt of money on the account of Consolidated Fund of India or Public Account of India.
A money bill can be introduced only in Lok Sabha on their commendation of the President. It is passed by a simple majority by both the Houses of Parliament. The Lok Sabha enjoys overriding legislative power in the passage of a money bill & Rajya Sabha cannot reject or approve a money bill by virtue of its own legislative power. Any money bill shall bear the certificate of the speaker that it is a money bill. The Speaker‘s decision in this regard is final & binding & cannot be questioned in any court of law.
A money bill is transmitted to Rajya Sabha after it has been passed by Lok Sabha. The Rajya Sabha can exercise any of the following four options:
(i) It also passes the bill.
(ii) It rejects the bill outright – upon being rejected the bill is deemed to have been passed by both the Houses.
(iii) The Rajya Sabha does not pass the bill for 14 days, the non the expiry of the 14th day after having received the bill itis deemed to have been passed by both the Houses.
(iv) The Rajya Sabha suggests amendments to the bill, the bill then goes back to the Lower House. If the Lok Sabha accepts one or more of the amendment then the bill is deemed to have been passed in that form on the other hand if Lok Sabha rejects the amendment then the bill is deemed to have been passed in its original form. There is no deadlock between the Houses over the passage of a money bill.
3. Financial Bill:
If a bill apart from dealing with money matter also deals with non-money matters then it is called a financial Bill. It is introduced in the same manner as that of money Bill but after its introduction, it is passed in the same manner an ordinary bill is passed.
4. Constitutional Amendment Bill:
Bills related to amendments in the constitution can be introduced in either House of the Parliament and does not require the prior approval of the President for its introduction. It shall be passed by both the House of the Parliament sitting separately by the majority of not less than 2/3rd of members present & voting & a majority of the total strength of the House.
The Constitution does not provide for a joint sitting of both the Houses of the Parliament if a deadlock develops between the two Houses over the passage of a Constitutional Amendment Bill.
For demos and free lectures, click on bank exams preparation. Find out more articles on General Awareness on our website www.takshilalearning.com.
Online coaching for Bank PO / Clerk exams.
Live classes of Quant, Reasoning & English.
Online mock tests with detailed analysis & explanation.
Complete study material
Job alerts and notifications
Takshila Learning is a leading e-learning portal for online bank coaching classes. Our motive is to provide complete guidance and content for your exam preparation. We provide Banking online classes, online test series, mock test papers, sample papers, current affairs, general awareness, quantitative aptitude, English for competitive exams and much more. Customized packages for different exams IBPS PO and Clerk, SBI PO and Clerk, RRB are available.
Follow us on a Social media