Consider the following statements regarding the Urban Infrastructure Development Fund (UIDF):
1. The fund aims to create urban infrastructure in Tier 2 & Tier 3 cities only.
2. The fund has to be used for maintenance work, administrative expenses, housing, power, telecom, urban transport, health and education projects.
Which of the statement(s) given above is/are correct?
1
1 Only
2
2 Only
3
Both 1 and 2
4
Neither 1 nor 2