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Lok Sabha passes Appropriation Bill
Why is it in the news?
- The Lok Sabha passed the Appropriation Bill 2020-21 that empowers the government to draw over ₹110 lakh crore from the Consolidated Fund of India.
- The fund will be used for government's working, as well as for the implementation of its programmes and schemes.
More in the news
- With the passage of the Appropriation Bill, two-thirds of the exercise for the approval of the 2020-21 Budget has been completed.
- Now, with only the Finance Bill that pertains to the government’s taxation proposal awaiting passage.
- Appropriation Bill:
(1) Post the discussions on Budget proposals and the Voting on Demand for Grants, the government introduces the Appropriation Bill in the Lok Sabha.
(2) It is intended to give authority to the government to withdraw from the Consolidated Fund, the amounts so voted for meeting the expenditure during the financial year.
(3) Under Article 114(3) of the Constitution, no amount can be withdrawn from the Consolidated Fund without the enactment of such a law by Parliament.
Source
The Hindu