Explanation:

Only statements 1,3&4 are correct.

• A ravine is a landform that is narrower than a canyon and is often the product of streambank erosion.

• Ravines are typically classified as larger in scale than gullies, although smaller than valleys.

• They are smaller version of a valley with steep sides.

• A ravine may have an active stream year around or during the wet season.  Some ravines remain dry due to a change of climate since it was formed. They are found in mountain regions and lower elevations that have hills and changing land features.

• Recently, Central Govt. in collaboration with the World Bank, has decided to convert large area of ravines in Gwalior-Chambal belt into arable land.

Hence option 3rd is correct.