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The question asks which of the given statements about the Indian Parliament are correct. The correct statement(s) are mentioned as option number 3, which states that statement 1 and statement 2 are correct.
Statement 1 states that all legislation requires the consent of both Houses of Parliament. This means that for any law to be passed, it needs to be approved by both the Lok Sabha (House of the People) and the Rajya Sabha (Council of States). This is a fundamental principle of the Indian parliamentary system.
Statement 2 states that all financial legislation must be recommended by the President. This means that any proposed laws related to finance, budget, taxes, or government spending need to be approved by the President of India before they can be considered by the Parliament. This ensures that the President has a role in the financial decisions of the government.
Statement 3 is not correct as mentioned in the question. It states that both Houses of Parliament have the power to vote the demands for grants presented by the government. This is not accurate because only the Lok Sabha has the power to vote on demands for grants. The Rajya Sabha can discuss and suggest changes, but the final decision is taken by the Lok Sabha.
In conclusion, option 3 is the correct answer as it states