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President gives assent to two money bills

Shahid K Abbas in New Delhi

President A P J Abdul Kalam has given his assent to the Appropriation (Railways) No 3 Bill, 2002 and the Appropriation (Railways) No 4 Bill, 2002, said a law ministry release on Wednesday.

"With this, these two bills have been notified in the Gazette of India as Act Nos 48 and 49, respectively, of the year 2002," said the release, clarifying that since the two bills could not be taken up for consideration and return by the Rajya Sabha due to the disruption of the proceedings of the House and Parliament having been adjourned sine die prematurely.

In the scheme of Constitution and the rule of law, the passage of the money bill by the Lok Sabha is enough, it said.

The Appropriation (Railways) No 3 Act, 2002, seeks to authorise payment and appropriation of a sum of Rs 400 crore (Rs 4 billion) from and out of the Consolidated Fund of India for the Railways for the current financial year 2002-2003.

The Appropriation (Railways) No 4 Act, 2002, seeks to authorise payment and appropriation of a sum of Rs 57 crore (Rs 570 million) from and out of Consolidated Fund of India to meet the additional expenditure already incurred for the railways during the financial year ended on March 31, 2000 in access of the amount already granted for the Railways for that year.

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