The statement "A Bill pending in the Rajya Sabha, which has not been passed by the Lok Sabha, shall not lapse on dissolution of the Lok Sabha" is correct because bills introduced in the Rajya Sabha are not affected by the dissolution of the Lok Sabha; they can be reintroduced in the new Lok Sabha without starting the legislative process afresh. In contrast, a bill pending in the Lok Sabha lapses upon prorogation because it signifies the end of a session and not a continuity in the legislative business, demonstrating the distinction between the two Houses regarding legislative procedures. This understanding reflects the constitutional provisions governing parliamentary proceedings and is critical for grasping the legislative framework during UPSC examinations.