explain the procedure of passing a money bill
Answers
Answer:
A money bill can only originate in the lower house of parliament . in that house it undergoes three readings :-
first reading - in which the heading of the bill is presented in font of the speaker by the officer incharge of bill or the minister incharge. the main functions of the bill are also dictated by that person
second reading- in second reading the clause by clause reading takes place in the house
third reading- in third reading voting takes place and if the bill is passed by majority of house the bill is considered to be passed from that house
after that the bill is sended to the upper house where these readings again takes place the upper house has to pass the bill or send the bill to lower house with some suggestions but if the lower house again passes it the bill is considered to be passed from upper house also [ this means that the upper house has only limited powers on money bill ]
if the bill is passed from both the houses it is sended to the president for his consideration if the president of india signs the bill it is considered passed
Explanation:
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money bill passed by lok sabha are sent to rajya sabha.the rajya sabha do not know the power to ament money bill but can recommend ammendment. after rajya sabha returns the bill the lok sabha can either accept or reject all or any of the recommendation. finally the bill passes to president for assent.