Consider the following statements: 1. The Baglihar Power Project had been constructed within the parameters of the Indus Water Treaty. 2. The project was completely built by the Union Government with loans from Japan and the World Bank. Which of the statements given above is/are correct?

1. The Baglihar Power Project (also known as Baglihar Hydroelectric Power Project) is a run-of-the-river power project on the Chenab River in Jammu and Kashmir, India. 2. Its construction faced objections from Pakistan, but neutral experts appointed under the Indus Water Treaty largely upheld India's right to build the project, albeit suggesting some modifications. It had been constructed within the parameters of the treaty. Statement 1 is correct. 3. The project was built primarily by the Jammu and Kashmir State Power Development Corporation (JKSPDC), a state government undertaking, not solely by the Union Government. While funding involved various sources, claiming it was completely built by the Union Government with loans from Japan and the World Bank is incorrect. Statement 2 is incorrect.