President Ram Nath Kovind signed off on Farm Laws Repeal Bill. The Farm Laws Repeal Bill, 2021, was passed in Rajya Sabha on Monday, November 29. Earlier in the day, it was cleared in Lok Sabha through a voice vote.

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BILL

A bill is a draft statute that is presented in either house of the parliament; These are legislative proposals that are introduced in the forms of bills.

Types of Bills In India

1. Ordinary Bills

An ordinary bill (Articles 107 and 108) is concerned with any matter other than financial subjects; Can be introduced in either House of the Parliament; can be introduced by Minister or a Private member. There is no recommendation of the President is required in the case of an ordinary bill. Ordinary bills can be amended/rejected by Rajya Sabha and it can be detained by Rajya Sabha for a period of six months. There is a provision of joint sitting in the case of ordinary bill.

2. Money Bill

Money bills are those bills which are concerned with financial matters like taxation, public expenditure, etc. These are those bills that contain provisions that deal with all or any of the matters specified in Article 110 of the Indian Constitution. This bill is presented only in Lok Sabha. It is introduced only by the Minister.

Money bill is introduced only after the President recommendation. This bill cannot be amended or rejected by Rajya Sabha. It can be detained by Rajya Sabha for the maximum period of 14 days. There is no provision of joint sitting in case of money bill.

3. Financial Bill

As per Article 117 of the Indian Constitution, financial bills are those bills which are concerned with financial matters but are different from money bills. Financial bills are further classified as Financial bills Categories A and B. Category A Bills contain provisions dealing with any of the matters specified in sub- clause a to f of clause 1 of Article 110 Indian Constitution and Category B Bills involve expenditure from the Consolidated Fund of India.

4. Constitutional Amendment Bill

Article 368 of the Indian Constitution is concerned with the provisions of amendment of the Constitution.

 How a Bill becomes an Act

After a Bill has been passed by both Houses, it is presented to the President for his assent.  The President can assent or withhold his assent to a Bill or he can return a Bill, other than a Money Bill, for reconsideration.  If the Bill is again passed by the Houses, with or without amendment made by the President, he shall not withhold assent there from.  But, when a Bill amending the Constitution passed by each House with the requisite majority is presented to the President, he shall give his assent thereto.

A Bill becomes an Act of Parliament after being passed by both the Houses of Parliament and assented to by the President.