Explanation:

The Supreme Court is currently deliberating on the continued existence of Article 31C in relation to the acquisition and redistribution of private property.

Both statements are correct.

• Statement 1 is correct: Article 31C was introduced by the Constitution (Twenty-fifth Amendment) Act, 1971, to protect laws that ensure the distribution of material resources to serve the common good and prevent the concentration of wealth to the common detriment.

• Statement 2 is correct: Article 31C provides that laws giving effect to the principles specified in Article 39(b) and Article 39(c) cannot be challenged for violating the right to equality under Article 14 or the freedoms under Article 192.

Article 31C

• Purpose: To protect laws that implement the Directive Principles of State Policy, particularly those related to the distribution of material resources and prevention of wealth concentration.

• Protection from Challenge: Laws under Article 31C are immune from challenges on the grounds of violating Articles 14 (Right to Equality) and 19 (Protection of certain rights regarding freedom of speech, etc.) of the Constitution.

• Historical Context: The introduction of Article 31C was a response to the Supreme Court’s decision in the Bank Nationalisation Case, which questioned the government’s ability to acquire and redistribute private property without ensuring proper compensation1.

• Judicial Review: The Supreme Court has the authority to review laws under Article 31C to ensure they genuinely align with the principles they are meant to implement.

Hence option 3rd is correct.