Which one of the following statements about Money Bill is correct ?

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Q: 97 (NDA-II/2016)

Which one of the following statements about Money Bill is correct ?

question_subject: 

Polity

question_exam: 

NDA-II

stats: 

0,75,61,19,5,5,107

keywords: 

{'money bill': [7, 1, 3, 9], 'rajya sabha': [50, 3, 22, 40], 'lok sabha': [42, 3, 20, 27], 'bill': [16, 1, 6, 29], 'dispute': [5, 0, 0, 7]}

Option 1 is incorrect. A Money Bill is not deemed to be so only if it provides for imposition of fines or penalties. There are various other criteria that define a Money Bill.

Option 2 is incorrect. A Money Bill is introduced in the Lok Sabha, not the Rajya Sabha. The Rajya Sabha does not have the power to initiate or introduce a Money Bill.

Option 3 is incorrect. The Rajya Sabha does not have the power to reject a Money Bill. It can only suggest amendments, but the final decision rests with the Lok Sabha.

Option 4 is correct. The Speaker of the Lok Sabha has the authority to decide if a bill is a Money Bill or not. In case of any dispute or disagreement, the Speaker`s decision is final. This is in accordance with Article 110 of the Indian Constitution.

In conclusion, option 4 is the correct statement about a Money Bill.