Who holds the final authority to determine if a Bill qualifies as a Money Bill?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Speaker of Lok Sabha.
The final authority to determine if a Bill qualifies as a Money Bill rests with the Speaker of the Lok Sabha.
As per Article 110(3) of the Indian Constitution, if any question arises whether a Bill is a Money Bill or not, the decision of the Speaker of the Lok Sabha (House of the People) is final. The Speaker's certificate to this effect is binding.
Explanation of Other Options:
- Finance Minister: Proposes the Annual Financial Statement (Budget) and often introduces the Bill, but does not have the final authority for classification.
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President of India: Assents to the Bill after both Houses pass it, but does not classify it as a Money Bill.
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Comptroller and Auditor General (CAG): Audits the accounts of the government and reports to the Parliament, having no role in the classification of legislative bills.