The correct option is
2 only
Explanation
The Puranas are a vast genre of Indian literature belonging to the Smriti tradition. They played a crucial role in the transition from Vedic sacrificial religion to Puranic Hinduism, focusing on sectarian deities like Vishnu, Shiva, and Devi.
Statement 1 is Incorrect:
The Puranas were not compiled exclusively in the Vedic period. While they contain oral traditions and myths that may date back to earlier times, their systematic compilation and written composition in Classical Sanskrit primarily took place during the Gupta period (c. 3rd to 6th century CE) and continued into the early medieval era. They represent a later phase of religious development compared to the Vedas.
Statement 2 is Correct:
The Puranas were written in simple Sanskrit to ensure they were accessible to the masses. Unlike the Vedas, which were restricted to the Dvija (twice-born) varnas, the Puranas were explicitly open to women and Shudras, who were traditionally debarred from studying the Vedic texts. This accessibility was instrumental in spreading Brahmanical religious values and the Bhakti tradition to all sections of society.
Key Takeaway:
The Puranas served as the "Vedas of the common people," compiled largely during the Gupta Age to popularize Hindu mythology and theism through accessible language and narratives.