With reference to Indian Parliament which one of the following is not correct ........

Indian Polity Indian Parliament

With reference to Indian Parliament, which one of the following is not correct?

The appropriation bill must be passed by both the Houses of Parliament before it can be enacted into law.

No money shall be withdrawn from the Consolidation Fund of India except under the appropriation made by the Appropriation Act.

Finance Bill is required for proposing new taxes but no other Bill/Act is required for making changes in the rates of taxes which are already under operation.

No money bill can be introduced except on the recommendation of the President.

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Explanation:

1st statement is incorrect.
Appropriation Bill: The Constitution states that ‘no money shall be withdrawn from the Consolidated Fund of India except under appropriation made by law’. Accordingly, an appropriation bill is introduced to provide for the appropriation, out of the Consolidated Fund of India, all money required to meet:
(a) The grants voted by the Lok Sabha.
(b) The expenditure charged on the Consolidated Fund of India.
No such amendment can be proposed to the appropriation bill in either house of the Parliament that will have the effect of varying the amount or altering the destination of any grant voted, or of varying the amount of any expenditure charged on the Consolidated Fund of India.
The Appropriation Bill becomes the Appropriation Act after it is assented to by the President. This act authorises (or legalises) the payments from the Consolidated Fund of India.