Explanation:

Champion Services Sectors refers to the 12 identified sectors where the Government wants to give focused attention for promoting their development, and realizing their potential. These include Information Technology & Information Technology enabled Services (IT& ITeS), Tourism and Hospitality Services, Medical Value Travel, Transport and Logistics Services, Accounting and Finance Services, Audio Visual Services, Legal Services, Communication Services, Construction and Related Engineering Services, Environmental Services, Financial Services and Education Services. A dedicated fund of Rs. 5000 crores has been proposed to be established to support initiatives for sectoral Action Plans of the Champion Sectors.

• The respective line Ministries/Departments finalizes the Action Plans and the implementation timelines along with a monitoring mechanism to monitor implementation under the overall guidance of the Committee of Secretaries (CoS) under Cabinet Secretary. The idea was launched and accepted on 28 February 2018.
•  This initiative is expected to enhance the competitiveness of India's service sectors thereby creating more jobs in India, contributing to a higher GDP and export of services to global markets.
• The share of India's services sector in global services exports was 3.3% in 2015. Based on this initiative, a goal of 4.2% has been envisaged for 2022. The share of services in Gross Value Added (GVA) was about 53% for India in 2015-16 (61% including construction services). This initiative is expected to raise the share of services in GVA to 60% (67% including construction services) by the year 2022.
•  Hence, only statement 1 is correct.