Tag: Financial Bills Article

Money bills and taxes in the nation are approved by parliament, and only Lok Sabha is where money bills are introduced in response to presidential proposals. After the Lok Sabha passes the money bill, it is transferred within 14 days to the Rajya Sabha. The country's new taxes are imposed, and old tax structures that predate the term of parliament are replaced by new ones. Financial bills pertaining to the nation's revenue and expenditure are also presented in economic statements. A category II financial bill is another one of...