Which of the following statements are correct in respect of a Money Bill in the Parliament?

1. Article 109 mentions special procedure in respect of Money Bills.

2. A Money Bill shall not be introduced in the Council of States.

3. The Rajya Sabha can either approve the Bill or suggest changes but cannot reject it.

4. Amendments to a Money Bill suggested by the Rajya Sabha have to be accepted by the Lok Sabha.

Select the answer using the code given below.

The correct answer is 1, 2 and 3.

Let us analyze each statement step-by-step to understand why they are correct or incorrect under the Constitution of India:

Statement 1: Article 109 mentions special procedure in respect of Money Bills.
This statement is correct. Article 109 of the Constitution of India explicitly lays down the special procedure in respect of Money Bills, detailing how they are passed, transmitted to the Rajya Sabha (Council of States), and the limitations of the Rajya Sabha's powers regarding such bills. (Note that Article 110 defines what constitutes a Money Bill).

Statement 2: A Money Bill shall not be introduced in the Council of States.
This statement is correct. According to Article 109(1) of the Constitution of India, a Money Bill cannot be introduced in the Council of States (Rajya Sabha). It can only be introduced in the House of the People (Lok Sabha) on the recommendation of the President.

Statement 3: The Rajya Sabha can either approve the Bill or suggest changes but cannot reject it.
This statement is correct. After a Money Bill is passed by the Lok Sabha, it is transmitted to the Rajya Sabha for its recommendations. The Rajya Sabha must return the bill within a period of 14 days with or without recommendations. It cannot reject the bill or amend it directly; it can only suggest changes or approve it. If the Rajya Sabha does not return the bill within 14 days, it is deemed to have been passed by both Houses in the form in which it was passed by the Lok Sabha.

Statement 4: Amendments to a Money Bill suggested by the Rajya Sabha have to be accepted by the Lok Sabha.
This statement is incorrect. The Lok Sabha has the absolute power to either accept or reject any or all of the recommendations/amendments suggested by the Rajya Sabha. If the Lok Sabha accepts any recommendations, the bill is deemed passed in that modified form. If the Lok Sabha does not accept any recommendations, the bill is deemed passed in its original form as passed by the Lok Sabha, without the suggested changes.

Therefore, statements 1, 2, and 3 are correct, making "1, 2 and 3" the correct option.