Explanation:

Statement 1 is correct. The National Agriculture Market (NAM) is envisaged as a pan-India electronic trading portal which seeks to network the existing Agricultural Produce Market Committees (APMCs) and other market yards to create a unified national market for agricultural commodities. NAM is a "virtual" market but it has a physical market (mandi) at the back end.

NAM was announced during the Union Budget 2014-15 and is proposed to be achieved through the setting up of a common e-platform to which initially 585 APMCs selected by the states are linked. NAM was launched on 14 April 2016 with 21 mandis from 8 States joining it.
Statement 2 is correct. NAM will be implemented as a Central Sector Scheme through Agri-Tech Infrastructure Fund (ATIF). The Department of Agriculture & Cooperation (DAC), Ministry of Agriculture will set it up through the Small Farmers Agribusiness Consortium (SFAC). The Central Government will provide the software free of cost to the states and in addition, a grant of up to Rs. 30 lakhs per mandi /market will be given as a onetime measure for related equipment and infrastructure requirements. In order to promote genuine price discovery, it is proposed to provide the private mandis also with access to the software but they would not have any monetary support from Government.