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Regarding Money Bill, which of the following statements is not correct

Regarding Money Bill, which of the following statements is not correct?

(a)

A Bill shall be deemed to be a Money Bill if it contains only provisions relating to imposition, abolition, remission, alteration or regulation of any tax.

(b)

A Money Bill has provisions for the custody of the Consolidated Fund of India or the Contingency Fund of India

(c)

A Money Bill is concerned with the appropriation of money out of the Contingency Fund of India

(d)

A Money Bill deals with the regulation of borrowing of money or giving of any guarantee by the Government of India.

Answer:

(c)

Core Books/NCERT

Explanation

Option (a) correctly mentions the definition of a Money Bill (as per Article 110(1)(a)) Option (b) also correctly mentions the definition of a Money Bill (as per Article 110(1)(c)) Option (d) also correctly mentions the definition of a Money Bill (as per Article 110(1)(b)) Article 110(1) of the Constitution defines a Money Bill as : A Bill is deemed to be a Money Bill if it contains only provisions dealing with all or any of the following matters, namely: (a) the imposition, abolition, remission, alteration or regulation of any tax; (b) the regulation of the borrowing of money or the giving of any guarantee by the Government of India, or the amendment of the law with respect to any financial obligations undertaken or to be undertaken by the Government of India; (c) the custody of the Consolidated Fund or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such fund; (d) the appropriation of moneys out of the Consolidated Fund of India; (e) the declaring of any expenditure to be expenditure charged on the Consolidated Fund of India or the increasing of the amount of any such expenditure; (f) the receipt of money on account of the Consolidated Fund of India or the public account of India or the custody or issue of such money or the audit of the accounts of the Union or of a State; or (g) any matter incidental to any of the matters specified in sub-clauses (a) to (f). (2.) A Bill is not deemed to be Money Bill by reason only that it provides for the imposition of fines or other pecuniary penalties, or for the demand or payment of fees for licences or fees for services rendered, or by reason that it provides for the imposition, abolition, remission, alteration or regulation of any tax by any local authority or body for local purposes. The Contingency Fund of India is established under Article 267(1) of the Indian Constitution. It is used in the nature of natural disasters and unforesable events. The fund is held by the Finance Secretary on behalf of the President of India.