Question

Consider the following statements on Financial Bill and say which is/are correct?
1. It is the sameasa Money Bill.
2. It can be introduced only in the Lok Sabha.
3. It can be amended in the Rajya Sabha.
4. It cannot be introduced except on the recommendation of the President.

• A. I only
• B. II and IV
• C. II, III and IV
• D. III and IV

Answer 1

The correct option is A I only

A Finance Bill is a Money Bill as defined in Article 110 of the Constitution. A money bill can only be introduced in the Lok Sabha with prior permission by the President of India. Money bill cannot be returned by the President to the parliament for its reconsideration, as it is presented in the Lok Sabha with his permission.