A Money Bill is a specific type of financial bill defined under Article 110 of the Constitution. Key features include its introduction solely in the Lok Sabha, the Speaker's final decision on its classification, and special procedures regarding its passage and presidential assent. Unlike ordinary bills, Money Bills cannot be introduced in the Rajya Sabha, and a joint sitting cannot be convened if there is a disagreement between the Houses. The President is generally bound to give assent to a Money Bill.
With reference to 'Money Bill', consider the following statements : (i) It can be introduced only in the Lok Sabha and not in the Rajya Sabha. (ii) A joint sitting of both Houses of Parliament can be convened in case there is a deadlock. (iii) When it is presented to the President of India, it is obligatory for the President of India to give his/her assent. Which of the statements given above is/are correct?
Asked in GS AE PWD 2108 2024 · Topic: The Parliament (Legislative Procedure: Types of Bills (Ordinary, Money, Financial, Constitution Amendment) and their passage)
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