Consider the following statements regarding Money Bills under Article 110:
1. A bill is deemed to be a Money Bill if it contains only provisions dealing with the imposition, abolition, or regulation of any tax.
2. The decision of the Speaker of the Lok Sabha on whether a bill is a Money Bill is final.
3. Rajya Sabha can reject or amend a Money Bill.
Which of the statements given above is/are correct?

Answer and explanation

Correct answer: D. 1 and 2 only

  1. Step 1: Statement 1: Article 110(1) defines a Money Bill as containing only specified financial matters including taxes. Statement 1 is correct.
  2. Step 2: Statement 2: Under Article 110(3), the decision of the Speaker is final and endorsed on the bill when transmitted. Statement 2 is correct.
  3. Step 3: Statement 3: Under Article 109, Rajya Sabha cannot amend or reject a Money Bill; it can only make recommendations within 14 days. Statement 3 is incorrect.
Answer
1 and 2 only (applicable).

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