Opposition flays government for clubbing non-money aspects with Finance Bill

NEW DELHI: Opposition parties in the Rajya Sabha today criticised the government for clubbing non-money aspects like Foreign Exchange Management Act (FEMA) with the Finance bill that was considered by the House.

The objection was made as soon as the House decided to take up the Appropriation Bill 2015 and the Finance Bill 2015 for discussion in the Upper House.

Raising a point of order under the Rule 69, K N Balagopal (CPI-M) said he was opposing as 4-5 laws enacted independently are being amended through the Finance Bill.

Laws such as Forward Contracts Regulation Act (FCRA), Securities Contracts Regulation Act, Foreign Exchange Management Act (FEMA), Prevention of Money Laundering Act (PMLA) are sought to be amended through the Finance bill, he added while objecting.

He said the issue needs to be sorted out before taking up the discussion as it curbs the rights of members.

To this, Deputy Chairman P J Kurien said, "I am not disputing the fact. For the chair, the bill passed by Lok Sabha and trasmitted it here, it is a money bill. ...the House is supreme."

He added, "It is a money bill. I have to treat it as a money bill. If you find any violation or so, express your views at the time of voting."

Naresh Agrawal (SP) said any bill brought as money bill cannot be treated as Finance bill in the Upper House.

Intervening, Leader of the House and Finance Minister Arun Jaitley explained the definition of money bill quoting the Constitution. He asserted that the decision of the Speaker of the House of people is final on the bill.

"A Bill shall be deemed to be a Money Bill if it contains only provisions dealing with all or any of the following matters, namely: (a) the imposition, abolition, remission, alteration or regulation of any tax;

"(b) the regulation of the borrowing of money or the giving of any guarantee by the Government of India, or the amendment of the law with respect to any financial obligations undertaken or to be undertaken by the Government of India.

"(c) the custody of the consolidated Fund or the Contingency Fund of India, the payment of moneys into or the withdrawal of moneys from any such Fund."