When a Money Bill is sent to the Rajya Sabha and later presented to the President for assent, it must carry a certificate that it is a Money Bill. This certificate is endorsed by the:

The Constitution requires that every Money Bill, when transmitted to the Rajya Sabha and when presented to the President for assent, must carry the certificate of the Speaker of the Lok Sabha that it is a Money Bill.

Power of the Speaker:

• If any question arises whether a bill is a Money Bill or not, the decision of the Speaker is final.
• The Speaker's decision cannot be questioned in any court of law, in either House of Parliament or even by the President.
• This gives the Speaker a very important role in financial legislation.

What a Money Bill covers:

A bill is a Money Bill if it deals only with matters such as the imposition, abolition or regulation of a tax, government borrowing, the custody of the Consolidated Fund or Contingency Fund, and payment of money into or out of these funds.

Special features of a Money Bill:

• It can be introduced only in the Lok Sabha.
• It can be introduced only on the recommendation of the President.
• It is treated as a government bill and can be introduced only by a minister.
• The Rajya Sabha can only make recommendations, which the Lok Sabha may accept or reject.
• There is no provision for a joint sitting on a Money Bill.

Controversies about certification:

The certification of the Aadhaar Bill, 2016 as a Money Bill was challenged in the Supreme Court.

The majority upheld it, but Justice D.Y. Chandrachud wrote a strong dissent, saying that wrongly certifying a bill as a Money Bill is a fraud on the Constitution.

Why not the other options?

• ✗The President gives assent but does not certify.
• ✗The Chairman of the Rajya Sabha has no role in certifying Money Bills.
• ✗The Finance Minister introduces financial bills but does not certify them.