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Which of the following statement is correct?

1) Article 112 defines Money bills

2) Article 110 defines Annual financial statement.


1. Only 1
2. Only 2
3. Both 1 and 2
4. Neither 1 nor 2

1 Answer

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Best answer
Correct Answer - Option 4 : Neither 1 nor 2

The correct option is 4 i.e, Neither 1 nor 2

  • There are a total of four types of bills in the Indian constitution namely, ordinary bill, money bill, financial bill, and constitutional bill.
  • Money bills can be introduced only in Lok Sabha also called the lower house of the parliament. It is introduced with the prior permission of the president.
  • Article 110 defines money bills.
  • A financial bill cannot be defined as a money bill unless the criteria of Article 110 are fulfilled.
  • Article 368 refers to the power of a constitutional amendment.
  • Article 112 is related to the Annual financial statement also called Budget. The budget is presented every year by the Finance minister of India.

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