With reference to various bills passed by the Parliament Consider the following Statements 1 Financi...........

Indian Polity Indian Parliament

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With reference to various bills passed by the Parliament, Consider the following Statements.

1. Financial Bill (i) can be introduced in Lok Sabha only.

2. The President enjoys Suspensive veto in case of Money Bills.

3. There is a provision of Joint sitting in case of Financial Bill (II).

Select the Correct answer from the options given below-

1 and 3 only

2 and 3 only

1 and 2 only

None of the above

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Explanation:

Explanation:
Financial Bill (i) and Money Bill, both of them can be introduced only in the Lok Sabha and not in the Rajya Sabha; and can be introduced only on the recommendation of the President. Hence statement 1 is correct. In all other respects, a financial bill (I) is governed by the same legislative procedure applicable to an ordinary bill.
A financial bill (II) contains provisions involving expenditure from the Consolidated Fund of India, but does not include any of the matters mentioned in Article 110.It is treated as an ordinary bill and in all respects; it is governed by the same legislative procedure which is applicable to an ordinary bill. The only special feature of this bill is that it cannot be passed by either House of Parliament unless the President has recommended to that House the consideration of the bill. Financial bill (II) can be introduced in either House of Parliament and there can be joint sitting of Parliament to resolve deadlock.