Correct Option
The 'Bombay Manifesto', issued in 1936 by a group of 21 Bombay-based businessmen, openly opposed the propagation of socialist ideals. This manifesto was a direct response to the growing influence of socialist thought, particularly as advocated by leaders like Jawaharlal Nehru, and expressed concerns that such policies would negatively impact private enterprise and economic development, leading to excessive government control. Thus, statement 1 is correct.
Incorrect Options
Statement 2 is incorrect. While the manifesto reflected the concerns of wealthy industrialists, its support was primarily confined to Bombay-based industrialists and did not extend to a large section of the business community across all of India. Therefore, options (b), (c), and (d) are incorrect as they either incorrectly affirm statement 2 or incorrectly negate statement 1.