The correct option is 3 only.
Explanation
The legislative powers of the President regarding the assent to bills are defined under
Article 111 of the Constitution. When a bill is passed by the Parliament, the President has three alternatives: give assent, withhold assent, or return the bill (if it is not a Money Bill) for reconsideration.
Statement-wise Analysis
- Statement 1 is Incorrect: While the text of Article 111 technically allows the President to withhold assent, in practice and constitutional convention, the President does not withhold assent to a Money Bill. This is because Money Bills are introduced in the Parliament only with the prior recommendation of the President. Withholding assent would contradict his own recommendation.
- Statement 2 is Incorrect: The proviso to Article 111 explicitly states that the President can return a bill to the Parliament for reconsideration "if it is not a Money Bill". Therefore, the President cannot send a Money Bill back for reconsideration; he must either give assent or withhold it (though withholding is rare).
- Statement 3 is Correct: For bills other than Money Bills (and Constitutional Amendment Bills), the President exercises a suspensive veto. He can return the bill to the Parliament for reconsideration. However, if the bill is passed again by the Parliament, with or without amendments, the President is obligated to give his assent.
Key Takeaway
Money Bills vs. Ordinary Bills: The President
cannot return a Money Bill for reconsideration (he usually gives assent). In contrast, for Ordinary Bills, he can return the bill once for reconsideration (Suspensive Veto).