Money Bill:

1. A bill that contains financial matters such as laying or lifting taxes, budget, etc. is called a Money Bill.
2. A Money Bill can be introduced only in the Lok Sabha.
3. It is the Speaker of Lok Sabha who decides if the Bill introduced is a Money Bill or not.
4. The budget of the centre is presented around last week of February in the Lok Sabha by the Finance Minister.

The Money Bill passes through the following process:

1. The Money Bill approved in the Lok Sabha is first sent to the Rajya Sabha for recommendations.
2. The Rajya Sabha needs to review it and send it to the Lok Sabha with necessary recommendations within 14 days.
3. If the Rajya Sabha does not send the Money Bill back to the Lok Sabha within 14 days, then Bill is considered to have been passed by the Rajya Sabha.
4. The Lok Sabha can either accept or reject all or a few recommendations of the Rajya Sabha.
5. If the Lok Sabha accepts the recommendations of the Rajya Sabha. the Bill is considered to have been passed by both the Houses of the Parliament.
6. Hence, in the matter of the Money Bill the Rajya Sabha has limited powers.
7. When the Money Bill is passed by both the Houses of the Parliament, it is sent to the President for his assent and President has to sign the Money Bill.