Explanation:

Both statements 2&3 are incorrect.
About the PLI Scheme

• In order to boost domestic manufacturing and cut down on import bills, the central government in March 2020 introduced a scheme that aims to give companies incentives on incremental sales from products manufactured in domestic units. 
• Apart from inviting foreign companies to set shop in India, the scheme also aims to encourage local companies to set up or expand existing manufacturing units. 
• The Scheme has been approved for many sectors including electronic products, IT hardware, pharmaceuticals, automobiles and components, etc. 

Eligibility for the Scheme

• It is subject to achieving a minimum threshold of cumulative incremental investment and incremental sales of manufactured goods. 
• The cumulative investment can be made at one go, subject to annual cumulative threshold as prescribed for four years being met. 
• 2019-20 will be treated as the base year for computation of cumulative incremental sales of manufactured goods net of taxes.

Hence option 1st is correct.