With reference to the Compensatory Afforestation Fund Act 2016, consider the following statements:
1. It establishes a National Compensatory Afforestation Fund under the Public Account of India for both Centre and State.
2. 90% of the Compensatory Afforestation Fund is to be retained by the centre while 10% is given to the State.
3. It seeks to establish National and State Compensatory Afforestation Fund Management and Planning Authorities to manage the funds.
Select the correct answer using the code given below:
1
1 and 3 only
2
3 only
3
1 and 2 only
4
2 and 3 only