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

• 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.
• A Money Bill has provisions for the custody of the Consolidated Fund of India or the Contingency Fund of India.
• A Money Bill is concerned with the appropriation of moneys out of the Contingency Fund of India.
• A Money Bill deals with the regulation of borrowing of money or giving of any guarantee by the Government of India.

Answer: (c) A Money Bill is concerned with the appropriation of moneys out of the Contingency Fund of India.

Notes:

• In India, a Money Bill is a type of legislation that relates to the appropriation of money from the Consolidated Fund of India, which is the main fund of the government. 
• Money Bills are typically related to financial matters such as taxation, public expenditure, and public debt. Article 110 of the constitution deals with Money Bill in India. 
• According to the Constitution of India, a bill is considered a Money Bill if it contains only provisions dealing with all or any of the following matters:
  • The imposition, abolition, remission, alteration, or regulation of any tax.
  • The regulation of the borrowing of money or the giving of any guarantee by the Government of India.
  • The custody of the Consolidated Fund or the Contingency Fund of India, the payment of money into or the withdrawal of money from any such fund.
  • The appropriation of money out of the Consolidated Fund of India.
  • 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.
  • 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.
  • Any matter incidental to any of the matters specified above.
• A money bill cannot be introduced in Rajya Sabha.
• Rajya Sabha can neither reject a Money Bill nor amend it
• The Speaker of the Lok Sabha decides whether the Bill is a Money Bill or not. Also, the Speaker’s decision shall be deemed to be final.
• A Money Bill may only be introduced in Lok Sabha, on the recommendation of the President. 
• It must be passed in Lok Sabha by a simple majority.
• It may be sent to the Rajya Sabha for its recommendations, which Lok Sabha may reject if it chooses to. 
• If such recommendations are not given within 14 days, it will be deemed to be passed by Parliament.