Q. Consider the following statements:
1.A Finance Bill can be introduced in either the Lok Sabha or the Rajya Sabha.
2.A Finance Bill has the potential to transform into a Money Bill if it is introduced in the Lok Sabha based on the President’s recommendation.
3.The President certifies a Bill as a Money Bill.
4.The Lok Sabha has the right to reject the Rajya Sabha’s recommendations when it comes to Money Bills..
How many of the above statements are correct?
Answer: C
Notes:
Explanation-
Statements 1, 2 and 4 are correct. A Finance Bill can be introduced in either the Lok Sabha or the Rajya Sabha. A Finance Bill has the potential to transform into a Money Bill if it is introduced in the Lok Sabha based on the President’s recommendation. The Lok Sabha has the right to reject the Rajya Sabha’s recommendations when it comes to Money Bills.
Statement 3 is incorrect. The Speaker certifies a Bill as a Money Bill.
Source: ForumIAS
