what is finance bill? answer in 120 words
Answers
Answer:
The Finance Bill is accompanied by a Memorandum containing explanations of the provisions included in it. The Finance Bill can be introduced only in Lok Sabha. However, the Rajya Sabha can recommend amendments in the Bill. The bill has to be passed by the Parliament within 75 days of its introduction.
Answer:
The Finance Bill is a Money Bill as defined in Article 110 of the Constitution of India. It is presented in view of Article 110(1)(a) of the Constitution which provides for the imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget.
There are four types of legislation that move through Congress: bills and three types of resolutions. Generally, bills are legislative proposals that, if enacted, carry the force of law, whereas resolutions do not. Though, this is not always true.
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