Introduction

The Indian Constitution is the supreme law of the land that governs the country's political and legal framework. It contains various provisions that outline the powers and functions of the government, as well as the rights and responsibilities of its citizens. One such important provision is Article 117, which deals with the special provisions as to financial bills.

Understanding Article 117

Article 117 of the Indian Constitution lays down the procedure to be followed in the case of financial bills. Financial bills are a type of legislation that deals with matters related to taxation, government expenditure, and borrowing. They are of significant importance as they directly impact the country's economy and financial well-being.

Article 117 states that a financial bill, which includes any bill containing provisions that deal with taxation, appropriation of money from the Consolidated Fund of India, or the imposition, abolition, remission, alteration, or regulation of any tax, must be introduced in the Lok Sabha (the lower house of the Parliament of India). This is because the Lok Sabha has greater representation from the people and is considered the more powerful of the two houses.

Furthermore, Article 117 provides that a financial bill cannot be introduced or passed in the Rajya Sabha (the upper house) without the President's prior recommendation. The President's recommendation is necessary to ensure that the government has the authority to propose financial measures and that they are in accordance with the overall economic policies of the country.

Procedure for Passing a Financial Bill

The procedure for passing a financial bill, as outlined in Article 117, is as follows:

1. The bill is introduced in the Lok Sabha, where it undergoes various stages of scrutiny and debate. Members of Parliament have the opportunity to discuss and propose amendments to the bill.
2. Once the Lok Sabha has passed the bill, it is transmitted to the Rajya Sabha for its consideration. The Rajya Sabha can suggest amendments, but it cannot reject or amend the bill without the President's prior recommendation.
3. If the Rajya Sabha suggests any amendments, the bill is sent back to the Lok Sabha for its approval. The Lok Sabha may accept or reject the amendments proposed by the Rajya Sabha.
4. If the Lok Sabha accepts the amendments, the bill is deemed to have been passed by both houses of Parliament.
5. If the Lok Sabha rejects the amendments, or if the Rajya Sabha does not propose any amendments, the bill is considered to have been passed by both houses in the form in which it was originally passed by the Lok Sabha.
6. Once the bill has been passed by both houses, it is sent to the President for his or her assent. The President may give his or her assent, withhold assent, or return the bill for reconsideration.
7. If the President gives his or her assent, the bill becomes law and is published in the official Gazette of India.

Significance of Article 117

Article 117 plays a crucial role in ensuring the proper functioning of the legislative process, particularly in matters related to finance. By requiring the President's recommendation for the passage of financial bills in the Rajya Sabha, it ensures that the government's fiscal policies are in line with the overall economic objectives of the country.

Furthermore, Article 117 emphasizes the importance of the Lok Sabha in matters of finance. As the house directly elected by the people, it is considered more representative of the will and aspirations of the citizens. By requiring financial bills to be introduced in the Lok Sabha, Article 117 ensures that the people's voice is heard and their interests are taken into account in financial matters.

Conclusion

Article 117 of the Indian Constitution provides special provisions as to financial bills, outlining the procedure for their introduction and passage. By requiring the President's recommendation for financial bills in the Rajya Sabha and emphasizing the role of the Lok Sabha, Article 117 ensures that financial legislation is in line with the country's economic policies and the will of the people. It is an important provision that contributes to the effective functioning of the legislative process in matters of finance.