Consider the following statements regarding a Money Bill under the Indian Constitution: 1. A Money Bill can be introduced in either House of Parliament on the recommendation of the President. 2. The Rajya Sabha has the power to amend or reject a Money Bill. Which of the statements given above is/are correct?

💡 Solution & Explanation

Both statements are incorrect. Statement 1 is wrong because a Money Bill can be introduced only in the Lok Sabha and not in the Rajya Sabha, though it requires the prior recommendation of the President. Statement 2 is incorrect because the Rajya Sabha cannot amend or reject a Money Bill; it can only make recommendations within a period of fourteen days, which the Lok Sabha may accept or reject. If the Lok Sabha rejects the recommendations, the bill is deemed passed by both houses in the form passed by the Lok Sabha. Article 110 defines a Money Bill.