With reference to the Money Bills in the Parliament, which of the following statements is INCORRECT?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. It can be rejected or amended by the Rajya Sabha.
- A Bill may be introduced in either House of Parliament. However,a Money Bill can not be introduced in Rajya Sabha.It can only be introduced in Lok Sabha.
- Rajya Sabha is required to return a Money Bill passed and transmitted by Lok Sabha within a period of 14 days from the date of its receipt. Rajya Sabha may return a Money Bill transmitted to it with or without recommendations.
- However, if Rajya Sabha does not return a Money Bill within the prescribed period of 14 days, the Bill is deemed to havebeen passed by both Houses of Parliament at the expiry of the said period of 14 days in the form in which it was passed by Lok Sabha.