With reference to a Money Bill in the Indian Parliament, which of the following statements is/are correct? 1. The decision of the Speaker of the Lok Sabha on whether a bill is a Money Bill cannot be questioned in any court of law. 2. The President can either assent to or withhold assent from a Money Bill, but cannot return it for parliamentary reconsideration. Select the correct answer using the code given below:

Explanation

Under Article 110 of the Indian Constitution, if any question arises whether a bill is a Money Bill or not, the decision of the Lok Sabha Speaker is final and cannot be challenged in any court of law, either House of Parliament, or by the President. Additionally, when a Money Bill is presented to the President, they can either give assent or withhold assent, but they cannot return the bill for reconsideration of the Houses, as it is introduced with the President's prior recommendation.