Parliament consists of the President, the Lok Sabha and the Rajya Sabha. The Lok Sabha is directly elected for five years; the Rajya Sabha is a permanent house with one third of its members retiring every two years.
A money bill can be introduced only in the Lok Sabha, and only on the President's recommendation. The Rajya Sabha may keep it for a maximum of fourteen days and can only recommend changes.
The Speaker presides over the Lok Sabha and decides whether a bill is a money bill. The Vice-President is the ex-officio chairman of the Rajya Sabha.