Explanation:

Recent context: An analysis report of the working of the Seventh Schedule was released by the Economic Advisory Council to the Prime Minister (EAC-PM • Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister. It is not an attached body of the Prime Minister’s Office. o At present, the chairman of EAC-PM is: Dr. Bibek Debroy. Therefore it is not chaired by cabinet secretary. Hence statements 1 and 3 are not correct. • The Terms of Reference of EAC-PM include analyzing any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon, addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister. • These could be either suo-motu or on reference from the Prime Minister or anyone else. They also include attending to any other task as may be desired by the Prime Minister from time to time. Hence statement 2 is correct.