Consider the following statements: 1. A Money Bill can be introduced in either LOK Sabha or Rajya Sabha. 2. The President of India can refuse his assent to a Money Bill and return it to Parliament for reconsideration. Which of the statements given above i

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Q: 23 (IES/2015)
Consider the following statements:
1. A Money Bill can be introduced in either LOK Sabha or Rajya Sabha.
2. The President of India can refuse his assent to a Money Bill and return it to Parliament for reconsideration.
Which of the statements given above is/are correct?

question_subject: 

Polity

question_exam: 

IES

stats: 

0,113,35,11,17,7,113

keywords: 

{'assent': [0, 0, 0, 3], 'money bill': [7, 1, 3, 9], 'rajya sabha': [50, 3, 22, 40], 'lok sabha': [42, 3, 20, 27], 'parliament': [15, 1, 3, 8]}

Option 1 states that a Money Bill can be introduced in either the Lok Sabha or the Rajya Sabha. However, this statement is incorrect. According to Article 110 of the Indian Constitution, a Money Bill can only be introduced in the Lok Sabha. Therefore, option 1 is incorrect.

Option 2 states that the President of India can refuse his assent to a Money Bill and return it to Parliament for reconsideration. This statement is also incorrect. According to Article 111 of the Indian Constitution, the President does not have the power to return a Money Bill for reconsideration. Once a Money Bill is passed by the Lok Sabha and sent to the Rajya Sabha, the President has to give his assent, and cannot withhold it or send it for reconsideration. Therefore, option 2 is incorrect.

Since both options 1 and 2 are incorrect, the correct answer is option 4, which states that neither statement 1 nor statement 2 is correct. It is important to note that the term "Money Bill" has a specific definition under the Indian Constitution, and its introduction and passage are subject to specific procedures and requirements.