With reference to Finance Bill and money Bill in the Indian parliament consider the following statem...........

Indian Governance and Polity(UPPCS) Articles, Schedules and Amendment

With reference to Finance Bill and money Bill in the Indian parliament consider the following statements :

1. When the Lok Sabha transmits Finance Bill to the Rajya Sabha, it can amend or reject the bill.

2. When the Lok Sabha transmit Money BIll to the Rajya Sabha, it can not amend or reject the Bill, it can only make recommendations.

3. In the case of disagreement between the Lok Sabha and the Rajya Sabha there is no joint sitting for Money Bill, but a joint sitting becomes necessary for Finance Bill.

How many of the above statements are correct?

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UPSC CSP Previous Year Paper (2023)

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Explanation:

Finance Bill: A Finance Bill, as defined in the Constitution under Article 110, contains provisions related to taxation, borrowing of money by the government, expenditure, or any other matter related to the Consolidated Fund of India. When the Lok Sabha transmits the Finance Bill to the Rajya Sabha, the latter can suggest amendments, but it's up to the Lok Sabha whether to accept or reject those amendments. The Rajya Sabha cannot reject the bill.

Money Bill: A Money Bill is also defined under Article 110 of the Constitution. The special feature of a Money Bill is that the Rajya Sabha can neither amend it nor reject it. The Rajya Sabha can only make recommendations within 14 days, after which the bill is deemed to have been passed by both Houses in the form in which it was passed by the Lok Sabha.

Disagreement & Joint Sitting: There is no provision for a joint sitting in case of disagreement over a Money Bill. The Lok Sabha can choose to accept or reject the recommendations of the Rajya Sabha regarding the Finance Bill. However, if there is a disagreement between the two Houses over other bills, the President may call for a joint sitting.

All three statements mentioned are correct.