Consider the following statements regarding Financial Bills in the Indian Parliament:
1. A Financial Bill (I) governed under Article 117(1) can be introduced only in the Lok Sabha and requires the prior recommendation of the President.
2. A Financial Bill (II) governed under Article 117(3) can be introduced in either House of Parliament without the recommendation of the President for its introduction, but cannot be passed by either House unless the President recommends its consideration.
3. The Rajya Sabha possesses equal powers with the Lok Sabha to reject or amend both Financial Bill (I) and Financial Bill (II), exactly as in the case of an Ordinary Bill.
Which of the statements given above are correct?
- A1 and 2 only
- B2 and 3 only
- 1, 2 and 3Cevap
- D1 and 3 only
Cevap
All three statements (1, 2, and 3) are correct.
All three statements are constitutionally accurate. Under Article 117(1), Financial Bill (I) shares two characteristics with a Money Bill: introduction exclusively in the Lok Sabha and mandatory prior recommendation of the President. Under Article 117(3), Financial Bill (II) does not require recommendation for introduction, but cannot be passed by either House unless recommended by the President for consideration. Finally, both Financial Bills (I) and (II) follow ordinary legislative procedure regarding Rajya Sabha's right to amend or reject them.
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Anahtar Kavram
Legislative procedure and constitutional classification of Financial Bills (I & II) under Article 117 vs Money Bills under Article 110