The Ministry of Environment, Forest and Climate change recently published the draft Environment Impact Assessment (EIA) Notification, 2020. Which of the following statements are correct about EIA?

1. It predicts the effect of a proposed industrial/infrastructural project on the environment.

2. It prevents the proposed activity/project from being approved without proper oversight or taking adverse consequences into account.

3. It compares various alternatives for a project and seeks to identify the one which represents the best combination of economic and environmental costs and benefits.

4. As per the new notification, Coal and non-Coal mineral prospecting and solar photovoltaic projects do not need prior environmental clearance.

Select the correct answer using the code given below: