Both statements are correct.

• The Bureau of Indian Standards (BIS) has begun the process of formulating a National Agriculture Code (NAC), on the lines of the existing National Building Code and National Electrical Code. 

• It will cover the entire agriculture cycle, and will also contain a guidance note for future standardisation.

• The code will have two parts. The first will contain general principles for all crops, and the second will deal with crop-specific standards for the likes of paddy, wheat, oilseeds, and pulses.

• The NAC will serve as a guide for farmers, agriculture universities, and officials involved in the field.

• It will also include standards for input management, like use of chemical fertilisers, pesticides, and weedicides, as well as standards for crop storage and traceability.

• Crucially, the NAC will cover all new and emerging areas like natural farming and organic farming, as well as the use of Internet-of-Things in the field of agriculture.

Hence option 3rd is correct.