With reference to Finance Bill and Money Bill in the Indian Parliament, consider the following statements: 1. When the Lok Sabha transmits Finance Bill to the Rajya Sabha, it can amend or reject the Bill. 2. When the Lok Sabha transmits Money Bill to the Rajya Sabha, it cannot amend or reject the Bill, it can only make recommendations. 3. In the case of disagreement between the Lok Sabha and the Rajya Sabha, there is no joint sitting for Money Bill, but a joint sitting becomes necessary for Finance Bill. How many of the above statements are correct?

Sign up to view the correct answer and detailed explanation.

UPSC Question: With reference to Finance Bill and Money Bill in the Indian ...

With reference to Finance Bill and Money Bill in the Indian Parliament, consider the following statements:

When the Lok Sabha transmits Finance Bill to the Rajya Sabha, it can amend or reject the Bill.
When the Lok Sabha transmits Money Bill to the Rajya Sabha, it cannot amend or reject the Bill, it can only make recommendations.
In the case of disagreement between the Lok Sabha and the Rajya Sabha, there is no joint sitting for Money Bill, but a joint sitting becomes necessary for Finance Bill. How many of the above statements are correct?