Introduction

Article 119 of the Indian Constitution provides for the regulation by law of the procedure in Parliament in relation to financial business. This article lays down the guidelines and procedures that need to be followed when dealing with financial matters in the Parliament of India.

Understanding Article 119

Article 119 states that the procedure in Parliament with respect to financial matters, including the presentation of the annual budget, shall be regulated by law. This means that the Parliament has the power to determine the rules and regulations that govern the discussion, debate, and passage of financial bills and budgets.

The purpose of Article 119 is to ensure transparency, accountability, and efficiency in the handling of financial matters by the Parliament. It provides a framework within which financial business can be conducted, ensuring that the interests of the nation and its citizens are protected.

Key Provisions of Article 119

1. Regulation by Law: The procedure in Parliament relating to financial matters is to be regulated by law. This means that the rules and regulations governing financial business in Parliament are not arbitrary but are determined by legislation.

2. Annual Budget: The presentation of the annual budget is an important part of the financial business in Parliament. The budget outlines the government's revenue and expenditure for the upcoming fiscal year and is presented by the Finance Minister.

3. Discussion and Debate: Financial matters, including the budget, are subject to discussion and debate in Parliament. Members of Parliament have the opportunity to voice their opinions, raise concerns, and propose amendments to the budget. This ensures a thorough examination of the financial proposals and promotes democratic decision-making.

4. Passage of Financial Bills: Financial bills, including the budget, need to be passed by both houses of Parliament - the Lok Sabha (House of the People) and the Rajya Sabha (Council of States). The bills go through multiple stages, including introduction, consideration, and voting, before they can become law.

5. Quorum: The quorum for the transaction of business in Parliament is one-tenth of the total number of members of the House. This means that a minimum number of members need to be present for the proceedings to be valid. The quorum ensures that decisions are made with the participation of a reasonable number of members.

Importance of Article 119

Article 119 plays a crucial role in the functioning of the Indian Parliament. It establishes a clear framework for the handling of financial matters, ensuring that they are dealt with in a systematic and transparent manner. Some of the key reasons why Article 119 is important are:

1. Transparency: By regulating the procedure in Parliament, Article 119 promotes transparency in the handling of financial matters. It ensures that the budget and other financial bills are discussed and debated openly, allowing for public scrutiny and accountability.

2. Accountability: The regulation of financial business by law holds the government accountable for its financial decisions. It provides a platform for opposition members to question and challenge the government's financial policies, ensuring that decisions are made in the best interests of the nation.

3. Efficient Decision-making: Article 119 facilitates efficient decision-making by providing a structured process for the consideration and passage of financial bills. The rules and procedures outlined in this article help streamline the discussion and debate, enabling timely decisions on crucial financial matters.

4. Balance of Power: The regulation of financial business in Parliament ensures a balance of power between the executive and legislative branches of the government. It prevents the government from unilaterally making financial decisions without the scrutiny and approval of the Parliament.

Conclusion

Article 119 of the Indian Constitution is an essential provision that governs the regulation of financial business in Parliament. It establishes the rules and procedures that need to be followed when dealing with financial matters, including the presentation of the annual budget. By promoting transparency, accountability, and efficiency, Article 119 ensures that financial decisions are made in the best interests of the nation and its citizens.