Question

What are the three financial powers of the lok sabha?

Answer 1

The loka Sabha has vast financial powers. A money bill can be introduced only in the Lok Sabha. After having been passed by it, the money bill goes to the Rajya Sabha. Such a bill can be delayed by the Rajya Sabha for a maximum period of 14 days.

Answer 2

$\Large \text{Financial\: Powers\; Of\: Lok\: Sabha }$

✍ According to article 109 of the Constitution a money bill originates only in the lok Sabha.

✍ However when it is passed by the lok Sabha and sent to the rajya Sabha for its consideration it has to return the same within 14 days with or without recommendations to the lok Sabha.

✍ Otherwise the bill is deemed to be accepted and will be sent to the president for his assent .

✍ An annual statement of estimated income and expenditure for girl in during financial year is commonly known as Budget.

✍ It is presented by the finance minister in lok Sabha. No tax shall be levied har expenditure be include without the approval of the lok Sabha as it acts as the guardian of the national purse.