What is the difference between Money Bill and Finance Bill? [Answer Limit: 20 words] [UKPSC 2023]
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The Finance Bill forms a part of the Union Budget, which means it contains all the details regarding budgetary allocations by the central government. This bill deals with matters like tax relief, inflation and interest rate, etc.
The money bills which are called “Acts for raising Revenue”. This bill contains many sections that allow the raising of taxes by the Government and also authorizes borrowing of money by issuing securities.