Question

Give correct response to
I. A Money Bill cannot be introduced in Rajya Sabha
II. All Financial Bills are not Money Bills
III. A Money Bills can be introduced only in Lok Sabha on the recommendation of the President
IV. Rajya Sabha is fully empowered to reject or amend a Financial Bill as it does in the case of ordinary bill ___________.

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

Answer 1

The correct option is B I, II, III and IV

The Constitution lays down special procedure for the money bill. A money bill is exclusively defined under the Constitution. Financial bills are those bills that deal with the fiscal matters i.e., revenue or expenditure. A money bill is a financial bill but all financial bills are not necessarily money bills. A money bill can only be introduced in the Lok Sabha and that too on the recommendation of the President. The Rajya Sabha has restricted power regarding the money bill. It cannot reject or amend the money bill but can only make recommendations however with regard to financial bill other than a money bill Rajya sabha can reject,amend or detain any bill. Like that of an ordinary bill.