Which of the following statements is/are correct regarding a Money Bill in the Indian Parliament?
1. Rajya Sabha must return a Money Bill within 14 days of receiving it.
2. If Rajya Sabha fails to return the bill within 14 days, it is deemed passed by both Houses in the form passed by Lok Sabha.
3. A Money Bill requires the prior recommendation of the President to be introduced in the Parliament.

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Accepted Answer

All statements are correct. A Money Bill can only be introduced in the Lok Sabha on the recommendation of the President. The Rajya Sabha has restricted powers regarding Money Bills; it must return the bill within 14 days, with or without recommendations. If it fails to do so, the bill is deemed to have been passed by both Houses in the original form passed by the Lok Sabha.

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