With reference to Finance Bill consider following statements It is introduced in the Lok S...........

Indian Polity Parliamentary Procedures

With reference to Finance Bill, consider following statements

It is introduced in the Lok Sabha immediately after the presentation of the annual budget, as directed by Article 110 (a) of the Constitution of India.
Finance bills category I and II contain provisions on taxation and expenditure.
Speaker of the Lok Sabha is authorised to decide whether the Bill is a Money Bill or not and also the Speaker’s decision shall be deemed to be final.
All money bill is said to be Financial bill.

Which of the statements given above is/are correct?

1,2&4 only

1,2&3 only

2,3&4 only

All of the above

The Finance Bill is introduced in the Lok Sabha immediately after the presentation of the annual budget, as directed by Article 110 (a) of the Constitution of India.
Finance Bills can be divided into three categories, viz. Finance bill category I, Finance bill category II and Money Bill.
Finance bills category I and II contain provisions on taxation and expenditure. On the other hand, a Bill may be deemed as a Money Bill only if it has provisions pertaining to Consolidated Fund of India and results in imposition, abolition or alteration of central or state taxes.
A Money Bill is a Finance Bill but all Finance Bills are not Money Bills. The Speaker of the Lok Sabha is authorised to decide whether the Bill is a Money Bill or not. Also, the Speaker’s decision shall be deemed to be final.

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