Question

what is money bill ? What power does Loksabha exercise in the issue of money bill. notebook answer only​

Answer 1

Answer:   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. The Lok Sabha exercises supreme power in the matter of money. Once the Lok Sabha passes the budget of the government or any other money related law the Rajya Sabha cannot reject it. The Rajya Sabha can only delay it by 14 days or suggest changes in it. The Lok Sabha may or may not accept these changes.