Question

The Finance BiIl has to be passed by the parliament within how many days of its introduction? 
1. 90
2. 75
3. 60
4. 85

Answer 1

Correct Answer - Option 2 : 75

The correct answer is 75.

• The finance bill has to be passed by the Parliament within 75 days of its introduction.
• The Finance Bill can be introduced only in Lok Sabha.
  • However, the Rajya Sabha can recommend amendments to the Bill.
• It must be passed in Lok Sabha by a simple majority of all members present and voting.
• A Finance Bill is a Money Bill as defined in Article 110 of the Constitution.
• A Money Bill passed by the Lok Sabha is deemed to have been passed by the Rajya Sabha also when no action is taken by the Upper House within 14 days.