How does the exclusive power given to Lok Sabha regarding the Money Bill highlight the principle of financial control by the people?

The Lok Sabha enjoys the following exclusive powers with regard to a Money Bill:

1. A Money Bill can be introduced only in the Lok Sabha and only with the President's recommendation.
2. The Speaker of the Lok Sabha decides whether a Bill is a Money Bill or not, and the Speaker's decision is final.
3. The Rajya Sabha cannot reject or amend a Money Bill. It can only make recommendations and must return the Bill within 14 days. The Lok Sabha may accept or reject these recommendations.
4. If the Rajya Sabha does not return the Bill within 14 days, the Bill is deemed to have been passed by both Houses.

This highlights the principle of financial control by the people because:

1. The members of the Lok Sabha are directly elected by the people, whereas the members of the Rajya Sabha are indirectly elected or nominated.
2. Therefore, the power to raise and spend public money rests mainly with the directly elected representatives of the people, making the Lok Sabha the final authority in matters relating to Money Bills.