In Bhikhu Parekh's analysis of Indian political thought, how does he interpret the concepts of 'Nyaya' and 'Niti'?
1
Nyaya and Niti are equivalent to Western notions of justice and morality, respectively.
2
Nyaya refers to legalistic justice, while Niti refers to ethical norms and political wisdom.
3
Nyaya refers to individual freedom, and Niti refers to societal obligations.
4
Nyaya and Niti are ancient Indian concepts with no modern relevance according to Parekh's analysis.