What is a money bill ?define them.
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In the Westminster system (and, colloquially, in the United States), a money bill or supply bill is a bill that solely concerns taxation or government spending (also known as appropriation of money), as opposed to changes in public law.
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Money Bill is defined in Article 110 of the Indian Constitution. Money bills are concerned with financial matters like taxation, public expenditure, etc. The bill is significant for Indian Polity and governance as many important issues like Aadhar Bill, Insolvency and Bankruptcy Bill are also related to it. Questions from this topic have time and again surfaced in the IAS Exam. The topic ‘Money Bill’ is important for all three stages of examination- Prelims, Mains and also Interview.
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