Exp) Option c is the correct answer

The Rajya Sabha has restricted powers with regard to a money bill. It cannot reject or amend a money bill. It can only make the recommendations. It must return the bill to the Lok Sabha within 14 days, whether with or without recommendations. The Lok Sabha can either accept or reject all or any of the recommendations of the Rajya Sabha.

Statement 1 is correct. Article 109 says that a Money Bill shall not be introduced in the Council of States (Rajya Sabha). It has to be introduced only in the Lok Sabha and after it is passed by that House, it has to be transmitted to the Rajya Sabha for its recommendation.

Statement 2 is correct. If it is a money bill, the Rajya Sabha can either approve the bill or suggest changes but cannot reject it. If a Money Bill is not returned by the Rajya Sabha within fourteen days of its receipt to the Lok Sabha, it will be deemed to have been passed by both Houses after the expiry of the said period. Amendments to the bill, suggested by Rajya Sabha, may or may not be accepted by the Lok Sabha.

Statement 3 is correct. Certain category of Financial Bills also cannot be introduced in the Rajya Sabha but there is no other limitation on the power of the Rajya Sabha with regard to such Bills and the Rajya Sabha has full powers to reject or amend a Financial Bill as it has in respect of any Bill other than a Money Bill.