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Which of the following statements is incorrect regarding Financial Bills under Article 117?

a) The Rajya Sabha can either reject or amend the financial bills under Article 117. 

b) A joint sitting can be convened to resolve the deadlock with regard to financial bills under Article 117. 

c) President can either withhold his assent or give his assent to the Financial Bills under Article 117. 

d) All financial bills are money bills, but all money bills are not financial bills.




Solution: 

  • The Rajya Sabha can either reject or amend the financial bills (I) and (II) under Article 117. 
  • A joint sitting can be convened to resolve the deadlock with regard to financial bills (I) and (II) under Article 117. 
  • In case of Financial Bill (I) and (II) under Article 117, President has all the veto powers i.e. he can either give his assent or withhold his assent or send the bill back for the reconsideration of the house. 
  • All money bills are financial bills but all financial bills are not money bills. Money bills are just a part of larger group of financial bills (Article 117).


Ans: (d)


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