Explanation:

Statement 1 and 2: Our economy is in the process of allowing full capital account convertibility, and options 1 and 2 come under capital account. Option 3 comes under current account. For e.g. Indian corporate are allowed full convertibility in the automatic route up to $ 500 million overseas ventures (Investment by Ltd. companies in foreign countries allowed). Indian corporate are allowed to prepay their external commercial borrowings (ECBs) via automatic route if the loan is above $ 500 million. As in 2015, Indian Individuals were allowed to invest in foreign assets, shares, etc., up to the level of $2, 50,000 per annum.

Statement 3: In recent years, the imports of Gold have tripled from $5 billion to $15 billion. In view of this, the Government has restricted the import of gold. For e.g. India has restricted all forms of gold imports from South Korea on the grounds that it is not a gold producing country. However, the commerce department is against the use of any such measure across the board.