Consider the following statements: Statement I: The Rajya Sabha cannot amend or reject a Money Bill and must return it to the Lok Sabha within 14 days. Statement II: The Constitution grants the Speaker of the Lok Sabha the authority to certify a Bill as a Money Bill, and this decision is final. Which one of the following is correct? |ForumIAS

[A] Both Statement I and Statement II are correct, and Statement II is the correct explanation of Statement I

[B] Both Statement I and Statement II are correct, but Statement II is not the correct explanation of Statement I

[C] Statement I is correct, but Statement II is incorrect

[D] Statement I is incorrect, but Statement II is correct

Answer: A

Notes:

Explanation:

The Rajya Sabha has no power to amend or reject a Money Bill. It can only make recommendations and must return the bill to the Lok Sabha within 14 days. If it fails to do so, the bill is deemed passed by both Houses in the form originally passed by the Lok Sabha.
As per Article 110, the Speaker of the Lok Sabha has the final authority to decide whether a bill is a Money Bill, and this decision cannot be challenged in court, in either House of Parliament, or by the President.

Source: Laxmikant (Polity)