Question
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 moneys 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
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Explanation:
The statement is not correct because a Money Bill does not deal with the appropriation of moneys out of the Contingency Fund of India. Appropriation of moneys out of the Contingency Fund of India is covered under the provisions of a Finance Bill, not a Money Bill.
The characteristics of a Money Bill, as defined in Article 110 of the Indian Constitution, include provisions relating to the imposition, abolition, remission, alteration, or regulation of any tax; the regulation of borrowing of money or giving of any guarantee by the Government of India; and the custody of the Consolidated Fund of India.