By which bill does the government make arrangements for the collection of revenues for a year ........

Indian Economy (Easy) Financial System

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By which bill does the government make arrangements for the collection of revenues for a year?

SupplementaryBudget

FinanceBill

FiscalBudget

Economic Bill

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Explanation:

The Finance Bill is a part of the Union Budget, stipulating all the legal amendments required for the changes in taxation proposed by the Finance Minister. Keep in mind that the Finance Bill is an umbrella legislation. Why? This Bill encompasses all amendments required in various laws pertaining to tax, in accordance with the tax proposals made in the Union Budget. The Finance Bill, as a Money Bill, needs to be passed by the Lok Sabha — the lower house of the Parliament. Post the Lok Sabha’s approval, the Finance Bill becomes Finance Act.