Which of the following statement is true regarding the Money bill?
It can be introduced only in the Lok Sabha
Money Bill Introduction Procedure in Parliament
This question asks about the correct procedure for introducing a specific type of financial legislation, known as a Money Bill, in the Indian Parliament.
Understanding Money Bills
A Money Bill deals exclusively with financial matters such as taxation, government spending, and borrowing. The Constitution of India, specifically under Article 110, defines what constitutes a Money Bill. These bills have special provisions regarding their passage through Parliament.
Key Provision for Introduction
One of the most distinctive features of a Money Bill is the procedure for its introduction. According to the Constitution:
- A Money Bill cannot be introduced in the Rajya Sabha (Council of States).
- It can only be introduced in the Lok Sabha (House of the People).
- Furthermore, such a bill can only be introduced on the recommendation of the President of India.
Analyzing the Options
Let's look at why the correct statement is true and the others are not:
- Option 1: It cannot be introduced in either House of Parliament - This is incorrect. Money Bills must be introduced in one of the Houses.
- Option 2: It can be introduced only in the Lok Sabha - This statement aligns with the constitutional provision (Article 110) and parliamentary practice. The Lok Sabha, being the directly elected body representing the people, holds exclusive power over the introduction of Money Bills.
- Option 3: It can be introduced only in the Rajya Sabha - This is incorrect. The Rajya Sabha does not have the power to initiate Money Bills.
- Option 4: It can be introduced in either House of Parliament - This is incorrect. This statement applies to Ordinary Bills, not Money Bills.
Conclusion on Money Bill Introduction
Therefore, the only true statement regarding the introduction of a Money Bill is that it must be introduced solely in the Lok Sabha. While the Rajya Sabha can discuss and suggest amendments, it cannot block or amend a Money Bill indefinitely; it must return the bill to the Lok Sabha within 14 days, with or without recommendations.
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