In the passing of a Money Bill, the Rajya Sabha has limited powers in that it shall return the Bill, with or without any recommendation, within the stipulated time of

The correct answer is 14 days.

Key Points

• The Money Bill can be introduced only in the Lok Sabha, as per Article 110 of the Indian Constitution.
• Rajya Sabha must return the Money Bill to Lok Sabha within 14 days, with or without recommendations.
• If the Rajya Sabha fails to return the Money Bill within 14 days, it is deemed to have been passed by both Houses in the form originally passed by Lok Sabha.
• The Lok Sabha can either accept or reject all or any of the recommendations made by the Rajya Sabha.
• The decision of the Speaker of Lok Sabha regarding whether a bill is a Money Bill is final and binding.

Additional Information

• Role of Rajya Sabha in Financial Legislation
  • Rajya Sabha has a limited role in financial matters compared to Lok Sabha.
  • It can only make recommendations on Money Bills and cannot amend or reject them.
• Definition of Money Bill
  • A Money Bill deals exclusively with matters such as imposition, abolition, remission, alteration, or regulation of taxes.
  • It also includes matters related to borrowing of money, the Consolidated Fund of India, and the expenditure charged on it.
• Financial Bills
  • There are two types of financial bills other than Money Bills: Financial Bills (Category A) and Financial Bills (Category B).
  • Both types can be introduced in the Lok Sabha but require the approval of both Houses of Parliament.
• Speaker's Certification
  • The Speaker of Lok Sabha certifies a bill as a Money Bill.
  • This certification is final and cannot be questioned in any court.