Procedure for a Money Bill:

Money Bills can be introduced only inLok sabha(the directly elected 'people's house' of the Indian Parliament).

Money bills passed by the Lok Sabha are sent to theRajya sabha(the upper house of parliament, elected by the state and territorial legislatures or appointed by thepresident). The Rajya Sabha may not amend money bills but can recommend amendments. To make sure that Rajya Sabha doesn't amend the bill by adding some non-money matters (known as Financial Bill), theSpeaker of the lok sabhacertifies the bill as a money bill before sending it to the upper house, and the decision of the Speaker is binding on both the Houses.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 money bill is deemed to have passed both houses with any recommended amendments the Lok Sabha chooses to accept, and without any that it chooses to decline.

The definition of "Money Bill" is given in Article 110 ofThe Constitution of India. A financial bill is not a Money Bill unless it fulfills the requirements of Article 110.

The Speaker of the Lok Sabha certifies if a financial bill is a Money Bill or not.

Policy cut motion - disapproval of the given policy. Symbolically, the members demand that the amount of the demand be reduced to 1INR. They may also suggest an alternative policy.

Economy cut motion - it is demanded that the amount of the policy be reduced by a specified amount.

Token cut motion - used to show specific grievance against the government. Also states that the amount of the demand be reduced by Rs. 100.

A money bill can only be introduced in parliament with prior permission of thePresident of India

Finance bill is supposed to be enacted within 75 days (including the Parliament voting and the President assenting).

Money bill cannot be returned by the President to the parliament for its reconsideration, as it is presented in the Lok Sabha with his permission.