Consider the following statements:
- 1. The Financial Bills of category B if enacted and brought into operation, would involve expenditure from the Consolidated Fund of India.
- 2. Financial Bills of category A can be introduced only in Lok Sabha.
- 3. Financial Bill of category B require recommendation of the President for its introduction.
Which of the above statements is/are correct ?
1 only
1 and 2 only
2 and 3 only
1, 2 and 3
Answer is Wrong!
Answer is Right!
This question was previously asked in
UPSC SO-Steno – 2017
Statement 1: Financial Bills of category B are defined under Article 117(3). These are Bills which, if enacted, would involve expenditure from the Consolidated Fund of India but are not Money Bills or Financial Bills under Article 117(1).
Statement 2: Financial Bills of category A are defined under Article 117(1). These Bills contain provisions similar to a Money Bill as well as other matters. Like Money Bills, they can only be introduced in the Lok Sabha and require the recommendation of the President for introduction.
Statement 3: Financial Bills of category B (Article 117(3)) do not require the recommendation of the President for their introduction. They only require the recommendation of the President for their consideration by either House.