The correct answer for the question "Who decides whether a bill is a Money Bill or not?" is option 3 - Speaker of the Lok Sabha.
In the Indian parliamentary system, the Speaker of the Lok Sabha plays a crucial role in the legislative process. One of their important responsibilities is to determine whether a bill is a Money Bill or not. A Money Bill is a special type of legislation that deals with matters related to taxation, government expenditure, borrowing, etc. It is defined under Article 110 of the Indian Constitution.
The Speaker of the Lok Sabha is responsible for examining each bill and deciding whether it meets the criteria to be classified as a Money Bill. This decision holds significant importance as Money Bills have specific procedures and privileges attached to them.
It`s important to note that while the President, Chairman of the Rajya Sabha, and Minister for Parliamentary Affairs are important figures in the legislative process, the authority to decide whether a bill is a Money Bill lies with the Speaker of the Lok Sabha.
Alert - correct answer should be: 3