Assertion :Unlike Money Bill, Financial Bill of Category A can be introduced in either House of Parliament. Reason: Recommendation of President is not require before introducing this bill.
A
Assertion is correct but Reason is incorrect
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B
Assertion is incorrect but Reason is correct
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C
Both Assertion and Reason are correct
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D
Both Assertion and Reason are incorrect
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Solution
The correct option is D Both Assertion and Reason are incorrect Financial bills are those bills that deal with fiscal matters. The Financial bills are classified into Financial Bills categories A and B. Category A bills contain provisions dealing with the matter provided in sub-clauses (a) to (f) of Article 110 and other matters and category B bills involve expenditure from the Consolidated Fund of India. The category A bill can only be introduced in Lok Sabha on the recommendation of the President, and category B bills can be introduced in either House of Parliament. Thus, both the assertion and reason are incorrect.