Money Bill: The bill which deals with financial matters like imposition of any tax or any expenditure made by the government is called Money Bill.

Various stages through which a bill has to pass to become a law:

A bill has to go through the three stages in each house of the Parliament before becoming law.

First Stage: The first stage of the bill is the introduction of the bill along with a statement of name, purpose and reasons. This is circulated among the members of the House. A minister or any member of the House can introduce the bill and will explain the purpose of the bill. There will be no debate. If the house is in favor of the bill, it goes to the second stage. The introduction of the bill is called the first reading stage.

Second Stage: At the second stage, the bill is taken up for discussion clause by clause. Some changes can be incorporated in the bill if approved by the house. Sometimes a bill may be referred to a small committee after a general discussion. The committee will consider the bill in detail and submit its recommendations to the House. In such cases clause by clause discussion will take place at the report stage, i.e., after the bill comes back from the committee. The House can accept the recommendations of the committee.

Third Stage: Then comes the last stage or third stage. At this stage the bill as a whole is put to vote, it is sent to the other house, where the same procedure is followed. If the bill is passed by both the Houses of Parliament, it goes to the President for his assent. After the assent of the President, it becomes law.