Consider the following statements regarding money bill 1 In case of parliament and state legis...........

Indian Polity Indian Parliament

Consider the following statements regarding money bill:

1. In case of parliament and state legislature money bill can only introduced in lower houses

2. Time limit within which upper house can return money bill is 14 days in case of parliament whereas no such limit has been defined for the state legislature

Select the correct answer using the codes given below:

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

2nd statement is incorrect because the Legislative Council can either pass the bill within 14 days from the date of the receipt of the Bill or suggest changes in it within 14 days. But these changes may or may not be accepted by the Assembly.