Explanation:

A Money Bill can be introduced only in the Lok sabha on the recommendations of the president. The Rajya sabha cannot initiate a Money Bill nor can it reject or amend it after passage by the Lok sabha. Constitution Amendment Bills have to be passed in each House of Parliament by a special majority. In case of any disagreement between the two Houses of Parliament on a Constitution Amendment Bill, there cannot be a joint sitting of the Houses of Parliament on the Bill as article 368 of the Constitution requires each House to pass the Bill by the prescribed special majority. Finance Bill is introduced along with appropriation bill in lok sabha.

Financial Bills (I)
A financial bill (I) contains not only any or all the matters mentioned in the Money Bill, but also other matters of general legislation. It is dealt under Article 117 (1) of the Constitution.
It is similar to a money bill in two respects–

• Both of them can be introduced only in the Lok Sabha and not in the Rajya Sabha.
• Both of them can be introduced only on the recommendation of the President.

In all other respects, a financial bill (I) is treated as an ordinary bill. ie.

• it can be either rejected or amended by the Rajya Sabha.
• In case of a disagreement between the two Houses over such a bill, the President can summon a joint sitting of the two Houses to resolve the deadlock.
• When the bill is presented to the President, he can either give his assent to the bill or withhold his assent to the bill or return the bill for reconsideration of the Houses.

Financial Bills (II)

• A financial bill (II) contains provisions involving expenditure from the Consolidated Fund of India, but does not include any of the matters mentioned in Article 110. It is dealt under Article 117 (3) of the Constitution.
• It is governed by the same legislative procedure which is applicable to an ordinary bill.
• Such Bills can be introduced in either House of Parliament. However, recommendation of the President is essential for consideration of these Bills by either House and unless such recommendation is received, neither House can pass the Bill.
• In other words, the recommendation of the President is not required at the introduction stage but is required at the consideration stage.