Given below are two statements:

Statement I : Financing higher education in a country like India depends upon availability of resources and other financial implications.

Statement II : According to NEP 2020, funding and financing of higher education will be carried out by the second vertical of Higher Education Commission of India i.e, Higher Education Grants Council.

In the light of the above statements, choose the most appropriate answer from the options given below:

1
Both Statement I and Statement II are correct
2
Both Statement I and Statement II are incorrect
3
Statement I is correct but Statement II is incorrect 
4
Statement I is incorrect but Statement II is correct

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