The Correct answer is None of the above. Money Bill- • Article 110 of the Constitution deals with the definition of money bills. It states that a bill is deemed to be 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 by the Union government • The custody of the Consolidated Fund of India 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; • Declaration of any expenditure charged on the Consolidated Fund of India or increasing 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, or the audit of the accounts of the Union or of a state; or • Any matter incidental to any of the matters specified above. • However, a bill is not to be deemed to be a money bill by reason only that it provides for • the imposition of fines or other pecuniary penalties, or • the demand or payment of fees for licenses or fees for services rendered; or • the imposition, abolition, remission, alteration or regulation of any tax by any local authority or body for local purposes. • If any question arises whether a bill is a money bill or not, the decision of the Speaker of the Lok Sabha is final. His decision in this regard cannot be questioned in any court of law or in the either House of Parliament or even the president. When a money bill is transmitted to the Rajya Sabha for recommendation and presented to the president for assent, the Speaker endorses it as a money bill. • The Constitution lays down a special procedure for the passing of money bills in Parliament. A money bill can only be introduced in the Lok Sabha and that too on the recommendation of the president. Every such bill is considered to be a government bill and can be introduced only by a minister. Financial Bill- • Financial bills are those bills that deal with fiscal matters, that is, revenue or expenditure. However, the Constitution uses the term ‘financial bill’ in a technical sense. Financial bills are of three kinds: • Money bills- Article 110 • Financial bills (I)- Article 117 (1) • Financial bills (II)- Article 117 (3) • This classification implies that money bills are simply a species of financial bills. Hence, all money bills are financial bills but all financial bills are not money bills. Only those financial bills are money bills that contain exclusively those matters which are mentioned in Article 110 of the Constitution. These are also certified by the Speaker of Lok Sabha as money bills. The financial bills (I) and (II), on the other hand, have been dealt with in Article 117 of the Constitution. Financial Bills (1)- • A financial bill (I) is a bill that contains not only any or all the matters mentioned in Article 110 but also other matters of general legislation. For instance, a bill that contains a borrowing clause, but does not exclusively deal with borrowing. In two respects, a financial bill (I) is similar to a money bill • Both of them can be introduced only in the Lok Sabha and not in the Rajya Sabha • Both of them can be introduced only on the recommendation of the president. In all other respects, a financial bill (I) is governed by the same legislative procedure applicable to an ordinary bill. • Hence, it can be either rejected or amended by the Rajya Sabha (except that an amendment other than for reduction or abolition of a tax cannot be moved in either House without the recommendation of the president). In case of a disagreement between the two Houses over such a bill, the president can summon a joint sitting of the two Houses to resolve the deadlock. When the bill is presented to the President, he can either give his assent to the bill or withhold his assent to the bill or return the bill for reconsideration of the Houses.