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An appropriation bill is a bill that authorizes the government to withdraw funds from the Consolidated Fund of India for use during the financial year. [3] Although Appropriation Acts are not included in any official list of central laws, they technically remain on the books.
The Appropriation Acts (Repeal) Bill, 2015 was introduced in the Lok Sabha on 24 April 2015 by then Minister of Law and Justice, D.V. Sadananda Gowda. The Bill sought to repeal 758 Appropriation Acts including 111 state appropriation acts enacted by Parliament between 1950 and 1976, and Railway Appropriation Acts enacted during 1950–2012.
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The 2018 budget was considered to be a crucial one, [9] [10] [11] as it would be the first since the rollout of the Goods and Service Tax (GST) regime in India. [12] [13] [14] It was widely expected that the budget would either increase the exemption limit, or introduce a standard deduction for salaried people to reduce the tax burden, in addition to a reduction of the tax rate for the ₹ 5 ...
A money bill must be returned to the Lok Sabha within 14 days, or the bill is deemed to have passed both houses in the form it was originally passed by the Lok Sabha. When a Money Bill is returned to the Lok Sabha with the recommended amendments of the Rajya Sabha, it is open to the Lok Sabha to accept or reject any or all of the recommendations.
A Consolidated Fund (Appropriation) Bill is brought in and passed at the end of the parliamentary year before the Summer recess. When passed, this is known as the Appropriation Act, and allocates the monies from the Consolidated Fund to the purposes set out in the main annual departmental expenditure estimates (the annual government department ...
Finance Bill mandated by Article110(a) of Constitution of India; and other documents presented as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003. for the financial year 2017 – 2018. It was presented before the parliament on 1 February 2017 by the Finance Minister of India, Arun Jaitley with 21.47 lakh crore ...
Legislative proposals are brought before either house of the Parliament of India in the form of a bill. A bill is the draft of a legislative proposal, which, when passed by both houses of Parliament and assented to by the President, becomes an act of Parliament. As soon as the bill has been framed, it has to be published in the newspapers and ...