Question

Consider the following about Money Bill.

1. It cannot. be introduced in the Council of States.
2. It needs to be certified as such by the President.
3. It can be amended by the Council of States.
4. President has to assent it without delay.
Which of the statements given above are correct?

Options

• 2 and 4

• 1, 2 and 4

• 2, 3 and 4

• All of the above

Answer 1

1, 2 and 4

Explanation:

Money Bills can be introduced only in Lok Sabha.  Rajya Sabha cannot make amendments in a Money  Bill passed by Lok Sabha and transmitted to it. It can,  however, recommend amendments in a Money Bill. It is open to Lok Sabha to accept or reject any or all of the recommendations of Rajya Sabha with regard to a  Money Bill.   
The President may either give or withhold his assent to a Money Bill. Under the Constitution, a Money Bill cannot be returned to the House by the President for reconsideration.   
A Money Bill can be introduced in the Parliament only with the President's recommendation.  However, the President needs to sign it without delay.