
When elevator is moving with uniform speed T=Fg, as the net force along the vertical direction should be zero.
Therefore, Statement-I is true.
Now, when elevator is going down with increasing speed, its acceleration is downward.
Hence,
W−N=ma⇒W−N=gW×a
⇒N=W(1−ga)
Clearly, normal reaction is less than weight. So Statement-II is false.