write a note on money bill
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Money Bill
Money Bill refers to a bill (draft law) introduced in the Lower Chamber of Indian Parliament (Lok Sabha) which generally covers the issue of receipt and spending of money, such as tax laws, laws governing borrowing and expenditure of the Government, prevention of black money etc.
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★A bill which covers income and expenditure of the government is called money bill.
★ Bills connected with tax policy of the government is also called money bill.
★ Lok Sabha can only introduced money bill and once it is approved by the Lok Sabha, it is passed to Rajya Sabha for its approval.
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