With reference to the legislative procedure in the Indian Parliament, consider the following statements regarding Money Bills: 1. All Money Bills are Financial Bills, but not all Financial Bills are Money Bills. 2. Rajya Sabha has no authority to reject or amend a Money Bill; it can only make recommendations. 3. A Money Bill can be introduced by any member of Parliament, provided prior recommendation of the President is obtained. Which of the statements given above are correct?
Parliament, Lok Sabha, Rajya Sabha & Legislative Procedure — question ID 946
Options
A.
B.
Explanation
Statement 1 is correct: Financial bills are categorized into three types, one of which is the Money Bill (Article 110). Hence, every Money Bill is a Financial Bill, but not vice versa. Statement 2 is correct: Rajya Sabha cannot reject or amend a Money Bill; it can only suggest recommendations and must return it to the Lok Sabha within 14 days. Statement 3 is incorrect: A Money Bill is classified as a Government Bill. Therefore, it can only be introduced in the Lok Sabha by a Minister, not by any private member of Parliament.