Consider the following statements 1 During Gupta period vedic gods Indra Varuna and Yama were reduce...........

Explanation:

Both 1 and 2

During the Gupta period, Vedic gods Indra, Varuna, and Yama were reduced to the position of Lokpals.

This statement is correct. During the Gupta period, there was a shift in religious practices, and local deities gained prominence. Vedic gods like Indra, Varuna, and Yama, who were major deities in the earlier Vedic period, were relegated to the position of Lokpals or local deities.

Bhagavatism preached the doctrine of incarnation.

This statement is also correct. Bhagavatism, particularly as seen in the Bhagavad Gita and later Puranic literature, preaches the doctrine of incarnation (avatar). It emphasizes the idea of the divine taking various forms (avatars) to restore cosmic order and protect dharma.

Therefore, the correct option is 3 (Both 1 and 2).