Answer: Following are the Financial Powers of the Rajya Sabha:
Financial Powers of the Rajya Sabha: The position of the Rajya Sabha in regard to Money Bills is inferior to that of the Lok Sabha. A Money Bill can originate in the Lok Sabha only. After a Money Bill is passed by the Lok Sabha, it is sent to the Rajya Sabha for its recommendations. The Rajya Sabha must return the Bill to the Lok Sabha within a period of 14 days with its recommendations. In financial matters the Lok Sabha is supreme; the Rajya Sabha has only an advisory role.
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The Union Parliament consists of the President and two houses—The House of People commonly known as the Lok Sabha and the Council of States known as the Rajya Sabha. The Parliament is a body of people’s representatives who have the supreme power and authority of governance in a democratic country. Read more