With reference to the lawmaking procedure for financial bills in the Indian Parliament, consider the following statements:
1. A Financial Bill (Category I) under Article 117(1) can be introduced only in the Lok Sabha and requires the prior recommendation of the President.
2. A Financial Bill (Category II) under Article 117(3) can be introduced in either House of Parliament without the prior recommendation of the President for its introduction.
3. Unlike a Financial Bill (Category I), a Financial Bill (Category II) cannot be rejected or amended by the Rajya Sabha once passed by the Lok Sabha.
Which of the statements given above are correct?
- A1 only
- 1 and 2 onlyCevap
- C2 and 3 only
- D1, 2 and 3
Cevap
Statements 1 and 2 are correct, while statement 3 is incorrect.
The correct combination includes the first and second statements only. Under Article 117(1), Category I Financial Bills share two characteristics with Money Bills: they must originate in the Lok Sabha and require the recommendation of the President. Under Article 117(3), Category II Financial Bills can originate in either House without prior presidential recommendation at introduction. Category II bills are ordinary in all legislative aspects, meaning the Rajya Sabha holds full powers of amendment and rejection.
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Distinction between Money Bills, Financial Bills (Category I under Article 117(1)), and Financial Bills (Category II under Article 117(3))
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