What will follow if a Money Bill is substantially amended by the Rajya

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What will follow if a Money Bill is substantially amended by the Rajya Sabha?

The Lok Sabha may still proceed with the Bill, accepting or not accepting the recommendations of the Rajya Sabha
The Lok Sabha cannot consider the Bill further
The Lok Sabha may send the Bill to the Rajya Sabha for reconsideration
The President may call a joint sitting for passing the Bill
This question was previously asked in
UPSC IAS – 2013
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If a Money Bill is substantially amended by the Rajya Sabha, the Lok Sabha may still proceed with the Bill, accepting or not accepting the recommendations of the Rajya Sabha.
Under Article 109 of the Constitution, the Rajya Sabha has limited powers regarding Money Bills. It cannot amend a Money Bill itself but can only make recommendations within a period of fourteen days. The Lok Sabha is not bound by these recommendations.
If the Lok Sabha accepts any recommendations, the Bill is deemed passed by both houses with those amendments. If the Lok Sabha rejects all recommendations, the Bill is deemed passed by both houses in the form in which it was passed by the Lok Sabha. This highlights the Lok Sabha’s primacy in financial matters. There is no provision for a joint sitting for Money Bills because the Lok Sabha’s decision is final.

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