How does the passage of a Money Bill relate to the concept of fiscal responsibility in India?
The passage of a Money Bill in India is directly linked to the concept of fiscal responsibility. A Money Bill contains provisions dealing with taxation, borrowing and expenditure by the government, which are crucial elements of fiscal policy. By passing such bills, the legislature sets the parameters for the government's fiscal actions, thus ensuring accountability and transparency in its financial management. This process helps to maintain fiscal discipline and is a key aspect of fiscal responsibility in India.