Which one of the following statements about Money Bill is correct ?
A Bill shall be deemed to be a Money Bill only if it provides for imposition of fines or penalties
A Money Bill shall be introduced in the Rajya Sabha
The Rajya Sabha can reject the Money Bill
The Speaker of the Lok Sabha finally decides if it is a Money Bill, should any dispute about it arise
Answer is Wrong!
Answer is Right!
This question was previously asked in
UPSC NDA-2 – 2016
Statement B is incorrect. Article 109(1) states that a Money Bill *shall not* be introduced in the Rajya Sabha; it can only be introduced in the Lok Sabha.
Statement C is incorrect. The Rajya Sabha has limited powers regarding Money Bills. It cannot reject or amend a Money Bill. It can only make recommendations to the Lok Sabha, which the Lok Sabha may accept or reject. If the Rajya Sabha does not return the bill within 14 days, it is deemed to have been passed by both Houses.
Statement D is correct. Article 110(3) of the Constitution states, “If any question arises whether a Bill is a Money Bill or not, the decision of the Speaker of the House of the People thereon shall be final.” The Speaker’s decision on this matter is conclusive.