Question

A Financial Bill deals with all those matters which are dealt with by a Money Bill but it includes other matters also. Give correct response _________________________.

• A. A Financial Bill cannot be rejected by the Upper House
• B. The President cannot withhold his assent to a Financial Bill
• C. The Financial Bill can be presented in either House
• D. A Financial Bill must be passed by both the Houses and in case of differences between two Houses, the same would be resolved by joint sitting of both the Houses

Answer 1

The correct option is D A Financial Bill must be passed by both the Houses and in case of differences between two Houses, the same would be resolved by joint sitting of both the Houses

Financial Bills are those bills which deal with fiscal matters. Thus, Money bills are financial bills but all financial bills are not necessarily money bills. Financial bills like money bills can only be introduced in the lok sabha only on the recommendation of the president but it can either be rejected or amended by the Rajya Sabha and must be passed by both the Houses. In case of disagreement between both the houses the President can summon the joint sitting of both the Houses to resolve the deadlock.