Differentiate between money bill and financial Bill? Do you think the process of classifying a bill as money bill needs change? Analyze.
Kartavya Desk Staff
Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
Q6. Differentiate between money bill and financial Bill? Do you think the process of classifying a bill as money bill needs change? Analyze. (250 words)
- •Difficulty level: Moderate*
Reference: TH
Why the question: Lok Sabha passes Finance Bill, amends LTCG tax provision on immovable properties Key demand of the question The focus of the question is twofold. In the first part, we need to differentiate between a money bill and a financial Bill along with relevant constitutional provisions. Thereafter, we need to explain how a bill is classified as a money bill and whether the process needs change. Directive word Analyze – When asked to analyze, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary. Structure of the answer Introduction – Explain what a money bill and a financial Bill is. Body Explain the difference between along with the constitutional provisions Discuss how a bill is classified as a money bill. Here explain the provisions of Article 110 and the fact that the speaker has discretion to classify a bill as money Bill. Discuss the controversy around the classification of bill as a money bill such as in the case of Aadhar. Examine why it is important to correctly classify money bill as otherwise it takes away from the authority of Rajya sabha. Discuss what changes can be brought in. Conclusion Emphasize on the need for resolution and the view that SC might take.
Why the question:
Lok Sabha passes Finance Bill, amends LTCG tax provision on immovable properties
Key demand of the question
The focus of the question is twofold. In the first part, we need to differentiate between a money bill and a financial Bill along with relevant constitutional provisions. Thereafter, we need to explain how a bill is classified as a money bill and whether the process needs change.
Directive word
Analyze – When asked to analyze, you have to examine methodically the structure or nature of the topic by separating it into component parts and present them as a whole in a summary.
Structure of the answer
Introduction – Explain what a money bill and a financial Bill is.
Explain the difference between along with the constitutional provisions
Discuss how a bill is classified as a money bill. Here explain the provisions of Article 110 and the fact that the speaker has discretion to classify a bill as money Bill.
Discuss the controversy around the classification of bill as a money bill such as in the case of Aadhar. Examine why it is important to correctly classify money bill as otherwise it takes away from the authority of Rajya sabha. Discuss what changes can be brought in.
Conclusion
Emphasize on the need for resolution and the view that SC might take.