A Finance Bill, containing the government's taxation proposals, can be introduced only in the:

The Finance Bill, which contains the proposals for imposing, abolishing, remitting, altering or regulating taxes for the coming financial year, is a Money Bill. Like all Money Bills, it can be introduced only in the Lok Sabha and only on the recommendation of the President.

Why only in the Lok Sabha:

• The Lok Sabha is directly elected by the people.
• The principle of "no taxation without representation" requires that taxation be controlled by the people's representatives.
• The government is responsible to the Lok Sabha.

Role of the Rajya Sabha:

• The Rajya Sabha cannot amend or reject a Money Bill.
• It must return the bill within 14 days, with or without recommendations.
• The Lok Sabha may accept or reject these recommendations.

Timeline:

The Finance Bill must be passed and receive assent within 75 days of its introduction, under the Provisional Collection of Taxes Act, 1931.

Content of the Finance Bill:

• Changes in income tax, corporate tax and other direct taxes.
• Changes in customs duties and other indirect taxes outside GST.
• Other financial provisions needed to implement the Budget.

Controversies:

• Sometimes Finance Bills have included amendments to non-tax laws, such as those relating to tribunals and electoral funding, which has been criticised as bypassing the Rajya Sabha.
• The Supreme Court examined some such provisions in the Rojer Mathew case (2019) and referred the question of Money Bill certification to a larger bench.

Appropriation Bill:

The Appropriation Bill, which authorises expenditure, is also a Money Bill and is introduced only in the Lok Sabha.

Financial bills of the first kind:

Financial bills that contain money matters along with other matters can also be introduced only in the Lok Sabha.

Why not the other options?

• ✗The Rajya Sabha cannot introduce a Money Bill.
• ✗There is no joint sitting for Money Bills.