Civics

Compare the following facts and select the correct option given below against each other

Financial Bill Sanction of law by President or Governor
Parliament Head of upper House
Vice President Making of law
Ordinance Fiscal policy

ANSWER

3,6,9,12


SOLUTION

  • A bill is called a financial bill if it results in imposition, abolition, remission, alteration or regulation of any tax at union or state level but NOT at local level. It includes fiscal policy. Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.
  • Ordinance: it is an authoritative order or a Sanction of law by President or Governor.
  • Parliament: it includes upper and lower houses. It deals with law making processes.
  • Vice president: he is the exofficio chairman of Rajyasabha which is a upper house.

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