How many of the given statements regarding Finance Bill and Money Bill are correct?

Here is the analysis of the three statements:

1. Statement 1: “When the Lok Sabha transmits Finance Bill to the Rajya Sabha, it can amend or reject the Bill.”
   • This statement is incorrect because, as per the text, a Finance Bill is a Money Bill, and the Rajya Sabha cannot amend or reject it. The Rajya Sabha can only recommend changes, which the Lok Sabha may accept or reject.
2. Statement 2: “When the Lok Sabha transmits Money Bill to the Rajya Sabha, it cannot amend or reject the Bill, it can only make recommendations.”
   • This statement is correct as per the explanation provided. The Rajya Sabha has limited powers over a Money Bill and can only make recommendations.
3. Statement 3: “In the case of disagreement between the Lok Sabha and the Rajya Sabha, there is no joint sitting for Money Bill, but a joint sitting becomes necessary for Finance Bill.”
   • This statement is incorrect because a Finance Bill is a Money Bill, and there is no provision for a joint sitting for a Money Bill.

Conclusion:

• Statement 2 is correct.
• Statements 1 and 3 are incorrect.

Thus, the correct answer is Only one.