Correct Option
Statement 1 is correct. Article 77(3) of the Indian Constitution states that the President shall make rules for the more convenient transaction of the business of the Government of India, and for the allocation among Ministers of the said business. This provision enables the President to streamline the executive functions and distribute responsibilities among ministers for efficient governance.
Incorrect Options
Statement 2 is incorrect. Article 77(1) of the Constitution mandates that all executive actions of the Government of India shall be expressed to be taken in the name of the President, not the Prime Minister. The President is the constitutional head of the executive, and all formal executive decisions are attributed to him.
Therefore, options (b), (c), and (d) are incorrect as they either incorrectly identify Statement 2 as correct or Statement 1 as incorrect.