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What is “Veto” power?

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Hint: The concept of veto power is said to have originated with the Roman offices of consul and tribune of the plebs. The tribunes could unilaterally bar any action not just by a Roman magistrate but also the decrees legislated by the Roman Senate.

Complete step by step answer:
Veto comes from Latin which means "I forbid". It is the power used by an official member of the state. For instance, if some particular thing has to be stopped unilaterally, especially the enactment of the legislation, then the members use their veto power. A veto can be absolute, which means that any resolution or legislation can be blocked completely. For instance, the permanent members of the United Nations Security Council can block any resolution.

When the vote is not absolute, it is limited. For example, as in the legislative process of the United States. In the U.S. a two-thirds vote to veto a particular legislation in the House, as well as the Senate, will override a presidential veto. In India, an "amendatory veto" can be exercised by the Indian President. It allows her/him to propose amendments to bills and then return it back to the Parliament for reconsideration, before signing.

Note: In India, the president holds the veto power when asked to sign the bills that later become laws. She/he has three veto powers. These are absolute veto, suspension veto and pocket veto.