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Option 3 : Any member of the Legislative assembly can present it.
The Correct Answer is Option 3.
- Money Bill:
- Article 110 of the constitution deals with Money Bill in India.
- A Money Bill may only be introduced in Lok Sabha, on the recommendation of the President.
- The Speaker of the Lok Sabha decides whether the Bill is a Money Bill or not.
- Also, the Speaker’s decision shall be deemed to be final.
- It must be passed in Lok Sabha by a simple majority.
- Once a bill is passed in Loksabha, it is then sent to the Rajya Sabha for its recommendations, which Lok Sabha may reject or accept it if it chooses to.
- If such recommendations are not given within 14 days, the bill is deemed to be passed by Parliament.
- A Bill is said to be a Money Bill if it only contains provisions related to taxation, borrowing of money by the government, expenditure from, or receipt to the Consolidated Fund of India.
- A money bill cannot be introduced in Rajya Sabha.
- Rajya Sabha can neither reject a Money Bill nor amend it.
Money bill in the State legislature.
- A Money Bill cannot be introduced in the legislative council. It can be introduced in the legislative assembly only and that too on the recommendation of the governor.
- Every such bill is considered to be a government bill and can be introduced only by a minister. Hence statement 3 is incorrect.
- After a Money Bill is passed by the legislative assembly, it is transmitted to the legislative council for its consideration.
- The legislative council has restricted powers with regard to a Money Bill.
- It cannot reject or amend a Money Bill. It can only make recommendations and must return the bill to the legislative assembly within 14 days.
- The legislative assembly can either accept or reject all or any of the recommendations of the legislative council.
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