Which of the following statements is/are correct?

1. A money bill is introduced only in the Lok Sabha.

2. Under article 249, resolution passed by Rajya Sabha in the national interest allows parliament to on only such items of state List which are specified in the said resolution. Select the correct answer using the codes given below:

Solution

Article 109(1) of the constitution provides that A Money Bill shall not be introduced in the Council of States. Article 110(3) gives power to speaker to decide whether a bill is a money bill or not whose decision shall be final. Article 249(1) provides that if the Council of States has declared by resolution supported by not less than two-thirds of the members present and voting that it is necessary or expedient in the national interest that Parliament should make laws with respect to any matter enumerated in the State List specified in the resolution, it shall be lawful for Parliament to make laws for the whole or any part of the territory of India with respect to that matter while the resolution remains in force.