Which of the following statements are correct regarding the Public Sector reforms and disinvestment? 1. The first method of disinvestment was selling of shares in select PSUs. 2. The second method of disinvestment was sale of PSU to a private sector company. 3. The first method was used over the period 1991-92 to 1998-99. 4. The second method was used over the period 1999-2000 to 2003-04.

- Statement 1: The initial phase of disinvestment in India (starting 1991-92) involved selling minority shareholdings in public sector undertakings (PSUs) in small tranches. This is correctly described as the first method. - Statement 2: A later phase, particularly gaining momentum from the late 1990s, involved strategic sale where a significant portion of shares (often majority) was sold, transferring management control to a private entity. This is correctly described as the second method. - Statement 3: The period from 1991-92 to 1998-99 largely saw the use of the first method (minority share sales) to raise revenue and broaden share ownership. - Statement 4: The period from 1999-2000 to 2003-04 (under the NDA government) was marked by a strong focus on strategic disinvestment, which is the second method, aiming for privatization and improved efficiency.