What is the significance of the House of the People accepting a Money Bill?
The significance of the House of the People accepting a Money Bill is that if it passes through the House, it then gets transmitted to the Council of States for its recommendations. If the Council does not return the Bill with their recommendations within 14 days, the Bill will be deemed to have been passed by both Houses in the form in which it was passed by the House of the People. This means that the Money Bill can become law without needing further approval from the Council of States if they do not meet the deadline for returning their recommendations.