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?

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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.

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