With reference to Money Bills in the Indian Parliament, consider the following statements: 1. A bill containing provisions for the imposition, abolition, or regulation of any tax is deemed to be a Money Bill. 2. The Speaker of the Lok Sabha has the final authority to decide whether a bill is a Money Bill or not. 3. When a Money Bill is presented to the President of India, they cannot send it back to the Parliament for reconsideration. Which of the statements given above are correct?
Parliament, Lok Sabha, Rajya Sabha & Legislative Procedure — question ID 961
Options
A.
B.
Explanation
Statement 1 is correct as Article 110 of the Constitution deals with Money Bills, which include the imposition, abolition, remission, alteration, or regulation of any tax. Statement 2 is correct because if any question arises whether a bill is a Money Bill or not, the decision of the Speaker of the Lok Sabha is final. Statement 3 is correct because a Money Bill cannot be returned to the Parliament by the President for reconsideration. The President can either give assent or withhold assent to it.