Explanation: Financial bills are those bills that deal with fiscal matters, that is, revenue or expenditure. However, the Constitution uses the term ‘financial bill’ in a technical sense.

Financial bills are of three kinds:

1. Money bills–Article 110
2. Financial bills (I) – Article 117 (1)
3. Financial bills (II) – Article 117 (3)

• This classification implies that money bills are simply a species of financial bills. Hence, all money bills are financial bills but all financial bills are not money bills.
• Only those financial bills are money bills which contain exclusively those matters which are mentioned in Article 110 of the Constitution.
• These are also certified by the Speaker of Lok Sabha as money bills.
• The financial bills (I) and (II), on the other hand, have been dealt with in Article 117 of the Constitution.

Source: Laxmikanth’s Polity