Q. Consider the following statements regarding Financial Bills in the Indian Parliament:
1.All financial bills can be introduced only in the Lok Sabha and require the President’s recommendation.
2.Unlike a Money Bill, a Financial Bill can be rejected or amended by the Rajya Sabha, and a joint sitting can be summoned in case of deadlock.
Which of the statements given above is/are correct?
Answer: B
Notes:
Explanation:
- Both Money Bills (Article 110) and Financial Bills (I) (Article 117(1)) can be introduced only in the Lok Sabha and only on the recommendation of the President.
- A Financial Bill is governed by the ordinary legislative process (unlike Money Bills). Hence, it can be rejected or amended by the Rajya Sabha, and if there is a deadlock, it can be resolved by a joint sitting of both Houses.
Source: Laxmikant (Polity)
