Consider the following statements
1. In terms of both GDP and GDP per capita income, India is better placed in terms of Purchasing Power Parity terms compared to current US Dollar terms.
2. Purchasing power parity shows the bundle of goods that can be bought by rupee domestically and the foreign currency in its home country.
Consider the following statements about India’s performance in Human Development as per the UNDP
1. India has a higher rank in Inequality Adjusted Human Development Index (IHDI) vis a vis the Human Development Index.
2. The difference between IHDI and HDI indicates the loss of welfare occurred due to inequality.
Which of these statements are/is correct?