In the context of Indian economy, consider the following statements: 1. The growth rate of GDP has steadily increased in the last five years. 2. The growth rate in per capita income has steadily increased in the last five years. Which of the statements given above is/are correct?

1. Statement 1 is incorrect: The growth rate of GDP in the Indian economy did not steadily increase in the last five years leading up to 2011. Economic growth rates typically fluctuate due to various factors, including global economic conditions (like the 2008 financial crisis) and domestic policies. A steady increase implies consistent year-over-year acceleration without dips, which was not the case. 2. Statement 2 is incorrect: The growth rate in per capita income depends on both GDP growth and population growth. Since GDP growth itself did not steadily increase, and population growth rates also factor in, it is highly unlikely that per capita income growth would have shown a steady, uninterrupted increase over the last five years. 3. The term "steadily" implies a continuous, uninterrupted rise, which is rare for macroeconomic indicators like GDP growth or per capita income growth over a multi-year period. Therefore, neither statement is correct.