Correct Option (C)
Statements 1, 2, and 3 are correct.
- Article 109 of the Constitution of India specifies the special procedure applicable to Money Bills, outlining their unique legislative process.
- A Money Bill cannot be introduced in the Council of States (Rajya Sabha). It must originate only in the House of the People (Lok Sabha), and only upon the recommendation of the President.
- The Rajya Sabha's powers concerning a Money Bill are restricted. It cannot reject a Money Bill. It can only make recommendations, which must be returned to the Lok Sabha within a period of 14 days.
Incorrect Options
- Statement 4 is incorrect. The Lok Sabha is not obliged to accept any amendments or recommendations suggested by the Rajya Sabha regarding a Money Bill. The Lok Sabha has the discretion to accept or reject these recommendations. If the Lok Sabha rejects all recommendations, the Bill is deemed to have been passed by both Houses in the form it was originally passed by the Lok Sabha.
- Option 1 (1 and 2 only) is incomplete as statement 3 is also correct.
- Option 2 (2 and 3 only) is incomplete as statement 1 is also correct.
- Option 4 (1, 3 and 4) is incorrect because it includes statement 4, which is factually inaccurate.