'Which one of the following statements about a Money Bill is not correct?
A
A Money Bill can be tabled in either House of Parliament
B
The Speaker of Lok Sabha is the final authority to decide whether a Bill is a Money Bill or not
C
The Rajya Sabha must return a Money Bill passed by Lok Sabha and send it for consideration within 14 days
D
The President cannot return a Money Bill to Lok Sabha for reconsideration
Correct Answer: Option A
Explanation
1. The question asks to identify the statement about a Money Bill that is not correct.
2. Statement (1): 'A Money Bill can be tabled in either House of Parliament'. This is not correct. According to Article 109(1) of the Constitution, a Money Bill can only be introduced in the Lok Sabha, not the Rajya Sabha.
3. Statement (2): 'The Speaker of Lok Sabha is the final authority to decide whether a Bill is a Money Bill or not'. This is correct, as explicitly stated in Article 110(3).
4. Statement (3): 'The Rajya Sabha must return a Money Bill passed by Lok Sabha and send it for consideration within 14 days'. This is correct, as per Article 109(2). Rajya Sabha has limited powers regarding Money Bills.
5. Statement (4): 'The President cannot return a Money Bill to Lok Sabha for reconsideration'. This is correct. While the President can return other bills for reconsideration (Article 111), this option is not available for Money Bills as they are typically introduced with the President's prior recommendation.
6. Therefore, the statement that is not correct is statement (1).